Perion Network (NASDAQ:PERI) Given New $13.00 Price Target at Lake Street Capital

Perion Network (NASDAQ:PERI) had its price target lifted by Lake Street Capital from $10.50 to $13.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other analysts have also commented on PERI. Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $14.00 in a research report on Wednesday. Roth Capital set a $14.00 price target on Perion Network in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Wednesday. Finally, StockNews.com downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.13.

Perion Network Stock Up 4.9%

Shares of NASDAQ:PERI opened at $11.38 on Wednesday. Perion Network has a fifty-two week low of $7.00 and a fifty-two week high of $12.74. The firm’s 50-day simple moving average is $8.61 and its 200-day simple moving average is $8.70. The company has a market cap of $510.11 million, a price-to-earnings ratio of 43.77, a PEG ratio of 0.76 and a beta of 1.47.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The firm had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. On average, research analysts forecast that Perion Network will post 0.51 EPS for the current year.

Hedge Funds Weigh In On Perion Network

A number of institutional investors and hedge funds have recently bought and sold shares of PERI. Russell Investments Group Ltd. acquired a new stake in shares of Perion Network during the fourth quarter valued at about $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Perion Network in the 4th quarter valued at approximately $45,000. Perritt Capital Management Inc purchased a new position in shares of Perion Network during the 4th quarter valued at approximately $127,000. State of Wyoming raised its holdings in Perion Network by 217.2% in the fourth quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock valued at $167,000 after acquiring an additional 13,472 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Perion Network by 56.4% during the 4th quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company’s stock valued at $225,000 after acquiring an additional 9,589 shares during the last quarter. Hedge funds and other 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.