Naples Money Management LLC Purchases New Holdings in Perion Network Ltd. (NASDAQ:PERI)

Naples Money Management LLC acquired a new position in shares of Perion Network Ltd. (NASDAQ:PERI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 955 shares of the technology company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Perion Network in the third quarter valued at about $25,000. Ronald Blue Trust Inc. boosted its stake in shares of Perion Network by 227.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,165 shares of the technology company’s stock valued at $36,000 after purchasing an additional 809 shares during the last quarter. Blue Trust Inc. grew its position in shares of Perion Network by 42.3% during the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after buying an additional 493 shares during the period. BNP Paribas Arbitrage SNC bought a new stake in shares of Perion Network during the third quarter worth approximately $58,000. Finally, State of Wyoming acquired a new position in Perion Network in the fourth quarter valued at approximately $61,000. 68.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PERI. Needham & Company LLC lowered their target price on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating for the company in a report on Monday, April 8th. Roth Capital lowered Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th. Roth Mkm restated a “neutral” rating and set a $13.00 target price (down from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. Lake Street Capital reaffirmed a “hold” rating and issued a $16.00 price target on shares of Perion Network in a research note on Monday, April 8th. Finally, StockNews.com lowered shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.80.

Perion Network Price Performance

NASDAQ:PERI opened at $10.98 on Friday. The business’s 50-day simple moving average is $20.45 and its 200-day simple moving average is $25.73. Perion Network Ltd. has a fifty-two week low of $10.91 and a fifty-two week high of $38.78. The stock has a market capitalization of $526.93 million, a PE ratio of 4.69, a price-to-earnings-growth ratio of 0.35 and a beta of 1.24.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. The firm had revenue of $234.23 million for the quarter, compared to analyst estimates of $233.09 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. On average, research analysts expect that Perion Network Ltd. will post 1.45 earnings per share for the current year.

Perion Network Profile

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.