Sphera Management Technology Funds Ltd Makes New Investment in Perion Network Ltd. (NASDAQ:PERI)

Sphera Management Technology Funds Ltd purchased a new position in shares of Perion Network Ltd. (NASDAQ:PERI) in the 4th quarter, HoldingsChannel reports. The firm purchased 117,517 shares of the technology company’s stock, valued at approximately $995,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in Perion Network during the 4th quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new position in Perion Network during the 4th quarter worth approximately $45,000. Perritt Capital Management Inc bought a new position in Perion Network during the 4th quarter worth approximately $127,000. State of Wyoming raised its holdings in Perion Network by 217.2% during the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock worth $167,000 after purchasing an additional 13,472 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings 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 worth $225,000 after purchasing an additional 9,589 shares during the last quarter. Institutional investors own 68.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Roth Capital set a $14.00 price target on shares of Perion Network in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Wednesday, May 14th. Lake Street Capital lifted their price objective on shares of Perion Network from $10.50 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. StockNews.com lowered shares of Perion Network from a “hold” rating to a “sell” rating in a research note on Tuesday, May 13th. Finally, Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.00 to $14.00 in a research note on Wednesday, May 14th. One research 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’s stock. According to data from MarketBeat.com, Perion Network has an average rating of “Hold” and an average price target of $12.13.

Perion Network Trading Down 0.8%

Shares of PERI stock opened at $10.72 on Monday. The firm has a market capitalization of $480.52 million, a PE ratio of 41.23, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47. The firm has a fifty day simple moving average of $8.71 and a two-hundred day simple moving average of $8.74. Perion Network Ltd. has a 12 month low of $7.00 and a 12 month high of $12.74.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS 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 predict that Perion Network Ltd. will post 0.51 earnings per share for the current fiscal year.

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.