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

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

Other equities research analysts also recently issued research reports about the stock. Lake Street Capital reissued a "buy" rating and set a $10.50 price target (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Perion Network currently has an average rating of "Hold" and an average price target of $12.25.

Perion Network Stock Performance

Shares of NASDAQ:PERI opened at $8.13 on Friday. The stock has a 50 day moving average price of $8.70 and a 200-day moving average price of $8.52. The firm has a market capitalization of $364.43 million, a P/E ratio of 31.27, a P/E/G ratio of 0.76 and a beta of 1.53. Perion Network has a 52-week low of $7.47 and a 52-week high of $22.03.

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Perion Network (NASDAQ:PERI - Get Free Report) last announced its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The business had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. On average, equities analysts forecast that Perion Network will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PERI. Private Capital Management LLC lifted its holdings in shares of Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock worth $18,816,000 after buying an additional 598,228 shares in the last quarter. Systematic Financial Management LP lifted its stake in Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock worth $5,489,000 after purchasing an additional 179,557 shares during the last quarter. Sphera Management Technology Funds Ltd bought a new stake in shares of Perion Network during the 4th quarter worth approximately $995,000. JPMorgan Chase & Co. boosted its stake 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 valued at $2,984,000 after purchasing an additional 107,278 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Perion Network in the 4th quarter valued at about $755,000. Institutional investors own 68.12% of the company's stock.

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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