Perion Network (NASDAQ:PERI) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a sell rating in a report issued on Friday.

A number of other research firms also recently commented on PERI. Lake Street Capital restated a “buy” rating and issued a $10.50 price objective (down from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.25.

Perion Network Price Performance

Shares of PERI stock opened at $7.36 on Friday. Perion Network has a 1-year low of $7.34 and a 1-year high of $21.44. The firm’s 50-day simple moving average is $8.66 and its 200-day simple moving average is $8.52. The firm has a market cap of $329.91 million, a P/E ratio of 28.31, a PEG ratio of 0.76 and a beta of 1.53.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. Analysts expect that Perion Network will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Perion Network

A number of institutional investors and hedge funds have recently bought and sold shares of PERI. Sphera Management Technology Funds Ltd acquired a new position in shares of Perion Network during the fourth quarter worth $995,000. Two Sigma Advisers LP boosted its position in Perion Network by 2.2% in the 4th quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company’s stock valued at $988,000 after buying an additional 2,500 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Perion Network by 5.0% during the fourth quarter. Two Sigma Investments LP now owns 200,862 shares of the technology company’s stock valued at $1,701,000 after acquiring an additional 9,592 shares in the last quarter. State of Wyoming increased its position in shares of Perion Network by 217.2% during the fourth quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock worth $167,000 after acquiring an additional 13,472 shares during the last quarter. Finally, Systematic Financial Management LP lifted its stake in shares of Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock worth $5,489,000 after acquiring an additional 179,557 shares in the last quarter. Hedge funds and other institutional investors 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.