Perion Network Ltd (NASDAQ:PERI) Stock Has Average Target Price of $13.88

Shares of Perion Network Ltd (NASDAQ:PERI) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $13.88.

Separately, Weiss Ratings cut shares of Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th.

Institutional Trading of Perion Network

Several institutional investors and hedge funds have recently made changes to their positions in PERI. Lazard Asset Management LLC bought a new stake in shares of Perion Network during the 1st quarter worth $1,568,000. Sei Investments Co. increased its stake in shares of Perion Network by 100.2% during the 1st quarter. Sei Investments Co. now owns 166,538 shares of the technology company’s stock worth $1,664,000 after purchasing an additional 83,359 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Perion Network during the 1st quarter worth approximately $649,000. CastleKnight Management LP raised its holdings in shares of Perion Network by 13.8% in the 4th quarter. CastleKnight Management LP now owns 479,020 shares of the technology company’s stock worth $4,589,000 after purchasing an additional 58,000 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Perion Network in the second quarter valued at approximately $532,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

PERI stock opened at $8.50 on Monday. The company’s 50-day moving average is $9.30 and its 200-day moving average is $9.42. Perion Network has a 1 year low of $7.63 and a 1 year high of $11.27. The stock has a market capitalization of $331.75 million, a PE ratio of -24.29, a price-to-earnings-growth ratio of 0.99 and a beta of 1.13.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Tuesday, August 11th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Perion Network had a positive return on equity of 2.43% and a negative net margin of 2.95%.The firm had revenue of $98.24 million during the quarter, compared to the consensus estimate of $96.72 million. On average, analysts anticipate that Perion Network will post 0.45 earnings per share for the current fiscal year.

Perion Network Company Profile

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company’s businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.