Needham & Company LLC Reiterates “Hold” Rating for Perion Network (NASDAQ:PERI)

Perion Network (NASDAQ:PERI)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Thursday, Benzinga reports.

PERI has been the topic of a number of other reports. Lake Street Capital raised shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price target on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.13.

Perion Network Stock Up 7.1 %

Shares of NASDAQ:PERI opened at $9.05 on Thursday. The company’s fifty day moving average is $8.11 and its two-hundred day moving average is $9.28. Perion Network has a 12-month low of $7.47 and a 12-month high of $32.99. The company has a market cap of $428.16 million, a P/E ratio of 5.88, a price-to-earnings-growth ratio of 0.42 and a beta of 1.47.

Perion Network (NASDAQ:PERI) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Perion Network had a net margin of 11.34% and a return on equity of 15.65%. The company had revenue of $102.20 million for the quarter, compared to the consensus estimate of $99.93 million. Equities research analysts anticipate that Perion Network will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Perion Network

Several hedge funds have recently bought and sold shares of PERI. Pitcairn Co. boosted its holdings in Perion Network by 9.0% during the first quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock valued at $279,000 after acquiring an additional 1,027 shares during the period. Van ECK Associates Corp boosted its holdings in Perion Network by 9.7% during the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock valued at $138,000 after acquiring an additional 1,468 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Perion Network by 17.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock valued at $128,000 after acquiring an additional 2,299 shares during the period. Atomi Financial Group Inc. boosted its holdings in Perion Network by 29.7% during the first quarter. Atomi Financial Group Inc. now owns 12,640 shares of the technology company’s stock valued at $284,000 after acquiring an additional 2,896 shares during the period. Finally, Sei Investments Co. boosted its holdings in Perion Network by 9.4% during the second quarter. Sei Investments Co. now owns 59,343 shares of the technology company’s stock valued at $496,000 after acquiring an additional 5,078 shares during the period. 68.12% of the stock is owned by institutional investors and hedge funds.

About Perion Network

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.