Perion Network (NASDAQ:PERI) Raised to Strong-Buy at Zacks Research

by · The Markets Daily

Perion Network (NASDAQ:PERI – Get Free Report) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Separately, Weiss Ratings downgraded Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Perion Network currently has an average rating of “Moderate Buy” and an average target price of $13.88.

View Our Latest Stock Report on Perion Network

Perion Network Stock Up 0.5%

Shares of NASDAQ PERI opened at $8.55 on Monday. The firm has a 50-day simple moving average of $9.26 and a 200-day simple moving average of $9.42. Perion Network has a 52 week low of $7.63 and a 52 week high of $11.27. The stock has a market capitalization of $333.66 million, a price-to-earnings ratio of -24.43, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13.

Perion Network (NASDAQ:PERI – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $98.24 million for the quarter, compared to analyst estimates of $96.72 million. Perion Network had a negative net margin of 2.95% and a positive return on equity of 2.43%. As a group, equities research analysts expect that Perion Network will post 0.45 EPS for the current year.

Insider Activity

In other Perion Network news, Director Eyal Kaplan sold 2,916 shares of Perion Network stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $8.72, for a total transaction of $25,427.52. Following the transaction, the director owned 51,226 shares of the company’s stock, valued at $446,690.72. The trade was a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 6,767 shares of company stock valued at $58,970. 2.78% of the stock is owned by corporate insiders.

Institutional Trading of Perion Network

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its position in Perion Network by 698.9% in the 1st quarter. Royal Bank of Canada now owns 10,170 shares of the technology company’s stock valued at $102,000 after acquiring an additional 8,897 shares during the period. SG Americas Securities LLC raised its stake in shares of Perion Network by 21.9% during the 1st quarter. SG Americas Securities LLC now owns 12,190 shares of the technology company’s stock worth $122,000 after buying an additional 2,186 shares in the last quarter. Bank of America Corp DE lifted its holdings in Perion Network by 101.3% in the first quarter. Bank of America Corp DE now owns 24,480 shares of the technology company’s stock valued at $245,000 after acquiring an additional 12,317 shares during the period. Headlands Technologies LLC boosted its position in shares of Perion Network by 282.5% during the 2nd quarter. Headlands Technologies LLC now owns 39,577 shares of the technology company’s stock worth $384,000 after purchasing an additional 29,231 shares in the last quarter. Finally, Y.D. More Investments Ltd grew its stake in shares of Perion Network by 29.6% during the 1st quarter. Y.D. More Investments Ltd now owns 50,002 shares of the technology company’s stock worth $503,000 after purchasing an additional 11,435 shares during the period. Hedge funds and other institutional investors own 68.12% of the company’s stock.

About Perion Network

(Get Free Report)

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company’s businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.

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