Perion Network (NASDAQ:PERI) Upgraded to Buy at Roth Capital

Roth Capital upgraded shares of Perion Network (NASDAQ:PERI) from a neutral rating to a buy rating in a research report released on Wednesday morning, Marketbeat Ratings reports. Roth Capital currently has $15.00 target price on the technology company’s stock.

A number of other analysts have also recently weighed in on PERI. StockNews.com cut shares of Perion Network from a “hold” rating to a “sell” rating in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Wednesday. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $10.50 price target (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Perion Network currently has a consensus rating of “Hold” and a consensus target price of $12.13.

Perion Network Stock Performance

Shares of NASDAQ PERI opened at $11.38 on Wednesday. The business has a 50 day simple moving average of $8.61 and a 200 day simple moving average of $8.70. Perion Network has a 52 week low of $7.00 and a 52 week high of $12.74. The stock 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 issued its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. On average, analysts predict that Perion Network will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Perion Network

A number of institutional investors have recently added to or reduced their stakes in PERI. Value Base Ltd. bought a new position in shares of Perion Network during the 1st quarter worth approximately $18,799,000. Private Capital Management LLC lifted its holdings in shares of Perion Network by 33.4% during the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after acquiring an additional 598,228 shares during the period. Systematic Financial Management LP grew its holdings in shares of Perion Network by 38.3% in the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock worth $5,489,000 after purchasing an additional 179,557 shares during the last quarter. Sphera Management Technology Funds Ltd bought a new position in Perion Network during the 4th quarter valued at about $995,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Perion Network by 39.5% during the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after buying an additional 107,278 shares in the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

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.