StockNews.com Downgrades Perion Network (NASDAQ:PERI) to Sell

Perion Network (NASDAQ:PERI - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Thursday.

Several other equities research analysts have also commented on PERI. Lake Street Capital reiterated a "buy" rating and issued a $10.50 price objective (down from $11.00) on shares of Perion Network in a research report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.25.

Perion Network Trading Down 0.1 %

Shares of NASDAQ PERI traded down $0.01 during mid-day trading on Thursday, reaching $8.54. The company had a trading volume of 787,272 shares, compared to its average volume of 411,702. The firm has a 50 day simple moving average of $8.89 and a two-hundred day simple moving average of $8.55. Perion Network has a 52-week low of $7.47 and a 52-week high of $23.74. The stock has a market cap of $382.85 million, a P/E ratio of 9.18, a PEG ratio of 0.87 and a beta of 1.48.

Perion Network (NASDAQ:PERI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Perion Network had a return on equity of 10.93% and a net margin of 7.81%. The business had revenue of $129.58 million for the quarter, compared to analysts' expectations of $130.44 million. On average, equities analysts expect that Perion Network will post 0.87 EPS for the current year.

Institutional Trading of Perion Network

Several large investors have recently modified their holdings of PERI. Y.D. More Investments Ltd grew its stake in Perion Network by 10.3% during the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company's stock valued at $3,346,000 after purchasing an additional 36,624 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Perion Network by 436.2% during the third quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company's stock worth $603,000 after buying an additional 62,204 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Perion Network by 39.5% during the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock worth $2,984,000 after buying an additional 107,278 shares in the last quarter. PDT Partners LLC increased its stake in shares of Perion Network by 58.8% in the third quarter. PDT Partners LLC now owns 175,345 shares of the technology company's stock worth $1,382,000 after buying an additional 64,936 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Perion Network in the third quarter valued at $658,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Perion Network Company Profile

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It offers Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.

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