Perion Network (NASDAQ:PERI) Rating Increased to Strong-Buy at StockNews.com

Perion Network (NASDAQ:PERIGet Rating) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Sunday.

Separately, Needham & Company LLC began coverage on shares of Perion Network in a report on Friday. They issued a “buy” rating and a $32.00 price target for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Perion Network currently has a consensus rating of “Buy” and a consensus price target of $32.80.

Shares of PERI opened at $18.32 on Friday. The company has a 50 day moving average price of $19.38 and a 200-day moving average price of $21.16. Perion Network has a fifty-two week low of $16.41 and a fifty-two week high of $33.09. The stock has a market capitalization of $813.79 million, a PE ratio of 14.77, a PEG ratio of 0.46 and a beta of 1.29.

Perion Network (NASDAQ:PERIGet Rating) last posted its earnings results on Thursday, April 28th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. Perion Network had a net margin of 9.90% and a return on equity of 13.67%. The company had revenue of $125.30 million during the quarter, compared to analysts’ expectations of $122.02 million. The business’s revenue was up 39.5% compared to the same quarter last year. On average, equities analysts expect that Perion Network will post 1.59 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in shares of Perion Network by 983.0% in the first quarter. Bank of America Corp DE now owns 30,347 shares of the technology company’s stock worth $682,000 after buying an additional 27,545 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Perion Network by 6.9% in the first quarter. Advisory Services Network LLC now owns 31,264 shares of the technology company’s stock valued at $703,000 after purchasing an additional 2,010 shares in the last quarter. Sawtooth Solutions LLC acquired a new position in shares of Perion Network in the first quarter valued at approximately $296,000. Private Capital Management LLC grew its holdings in shares of Perion Network by 3.2% in the first quarter. Private Capital Management LLC now owns 1,630,540 shares of the technology company’s stock valued at $36,671,000 after purchasing an additional 50,935 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Perion Network in the first quarter valued at approximately $267,000. 46.52% of the stock is currently owned by hedge funds and other institutional investors.

About Perion Network (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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Analyst Recommendations for Perion Network (NASDAQ:PERI)

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