Perkins Capital Management Inc. Increases Stock Holdings in Perion Network Ltd. (NASDAQ:PERI)

Perkins Capital Management Inc. raised its stake in shares of Perion Network Ltd. (NASDAQ:PERI) by 4.2% during the fourth quarter, Holdings Channel reports. The firm owned 55,450 shares of the technology company’s stock after buying an additional 2,240 shares during the quarter. Perkins Capital Management Inc.’s holdings in Perion Network were worth $470,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Perion Network during the 4th quarter valued at about $45,000. Point72 Asset Management L.P. purchased a new stake in Perion Network in the third quarter worth about $134,000. XTX Topco Ltd bought a new stake in Perion Network during the 3rd quarter valued at approximately $150,000. Fox Run Management L.L.C. grew its holdings in shares of Perion Network by 146.0% during the 4th quarter. Fox Run Management L.L.C. now owns 36,712 shares of the technology company’s stock worth $311,000 after acquiring an additional 21,790 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Perion Network by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock worth $397,000 after acquiring an additional 2,225 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PERI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research note on Thursday, February 20th. StockNews.com cut shares of Perion Network from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Finally, Lake Street Capital reiterated a “buy” rating and set a $10.50 target price (down from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Perion Network presently has a consensus rating of “Hold” and a consensus target price of $12.25.

Perion Network Price Performance

Shares of Perion Network stock opened at $8.14 on Monday. Perion Network Ltd. has a 1 year low of $7.47 and a 1 year high of $23.03. The firm’s 50-day moving average is $8.82 and its 200 day moving average is $8.53. The stock has a market cap of $364.88 million, a price-to-earnings ratio of 31.31, a PEG ratio of 0.76 and a beta of 1.53.

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

Perion Network Company Profile

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.