Perion Network (NASDAQ:PERI) Releases Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Perion Network (NASDAQ:PERI) posted its quarterly earnings results on Wednesday. The technology company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.22), Zacks reports. Perion Network had a positive return on equity of 2.68% and a negative net margin of 1.12%. Perion Network updated its FY 2025 guidance to EPS.

Perion Network Stock Up 13.8%

PERI traded up $1.31 during trading on Wednesday, reaching $10.81. 1,294,130 shares of the company’s stock were exchanged, compared to its average volume of 385,187. The company has a market capitalization of $484.56 million, a P/E ratio of -89.89, a PEG ratio of 0.83 and a beta of 1.55. The business has a 50 day moving average price of $9.46 and a 200 day moving average price of $9.93. Perion Network has a fifty-two week low of $6.99 and a fifty-two week high of $11.79.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PERI. Wall Street Zen upgraded Perion Network from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Perion Network in a research report on Wednesday, October 8th. Finally, Craig Hallum set a $14.00 price target on shares of Perion Network and gave the company a “buy” rating in a report on Monday, October 13th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Perion Network currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Institutional Investors Weigh In On Perion Network

Several institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. increased its position in shares of Perion Network by 209.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,721 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,843 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Perion Network during the first quarter worth approximately $160,000. State of Wyoming raised its stake in shares of Perion Network by 11.0% in the second quarter. State of Wyoming now owns 22,147 shares of the technology company’s stock valued at $225,000 after acquiring an additional 2,196 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Perion Network in the second quarter valued at approximately $370,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Perion Network by 20.0% in the 2nd quarter. Balyasny Asset Management L.P. now owns 42,115 shares of the technology company’s stock worth $427,000 after acquiring an additional 7,028 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

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.