Perion Network (NASDAQ:PERI) Research Coverage Started at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Perion Network (NASDAQ:PERIGet Rating) in a report issued on Friday morning. The firm issued a buy rating and a $32.00 target price on the technology company’s stock.

Separately, StockNews.com lowered shares of Perion Network from a strong-buy rating to a buy rating in a report on Saturday, June 25th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $32.80.

NASDAQ:PERI opened at $18.32 on Friday. The firm has a market capitalization of $813.79 million, a P/E ratio of 14.77, a P/E/G ratio of 0.46 and a beta of 1.29. The company has a fifty day moving average of $19.47 and a 200-day moving average of $21.19. Perion Network has a twelve month low of $16.41 and a twelve month high of $33.09.

Perion Network (NASDAQ:PERIGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.13. Perion Network had a return on equity of 13.67% and a net margin of 9.90%. The business had revenue of $125.30 million for the quarter, compared to analysts’ expectations of $122.02 million. Perion Network’s revenue for the quarter was up 39.5% on a year-over-year basis. Equities research analysts anticipate that Perion Network will post 1.59 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of PERI. Clal Insurance Enterprises Holdings Ltd grew its stake in Perion Network by 861.2% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,201,450 shares of the technology company’s stock valued at $28,895,000 after acquiring an additional 1,076,450 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Perion Network during the fourth quarter valued at approximately $24,772,000. Vanguard Group Inc. grew its stake in shares of Perion Network by 38.3% during the first quarter. Vanguard Group Inc. now owns 1,186,776 shares of the technology company’s stock valued at $26,691,000 after buying an additional 328,422 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Perion Network by 20.2% in the first quarter. Acadian Asset Management LLC now owns 1,704,203 shares of the technology company’s stock worth $38,307,000 after buying an additional 286,940 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Perion Network by 25.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,188,836 shares of the technology company’s stock worth $28,591,000 after buying an additional 237,824 shares during the period. 46.52% of the stock is currently owned by institutional investors and hedge funds.

Perion Network Company Profile (Get Rating)

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides 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.

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