Perion Network (NASDAQ:PERI) Hits New 1-Year High Following Analyst Upgrade

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Perion Network logoPerion Network Ltd. (NASDAQ:PERI – Get Rating)’s stock price hit a new 52-week high during trading on Monday after Needham & Company LLC raised their price target on the stock from $32.00 to $37.00. Needham & Company LLC currently has a buy rating on the stock. Perion Network traded as high as $33.94 and last traded at $33.44, with a volume of 357830 shares trading hands. The stock previously closed at $33.23.

Separately, StockNews.com upgraded Perion Network from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 5th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Seizert Capital Partners LLC purchased a new position in shares of Perion Network during the 4th quarter worth $1,128,000. Oliver Luxxe Assets LLC lifted its stake in shares of Perion Network by 44.3% during the 4th quarter. Oliver Luxxe Assets LLC now owns 172,659 shares of the technology company’s stock worth $4,368,000 after purchasing an additional 52,966 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Perion Network by 18.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,317,816 shares of the technology company’s stock worth $33,341,000 after purchasing an additional 206,208 shares during the period. Artemis Investment Management LLP purchased a new position in shares of Perion Network during the 4th quarter worth $4,153,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Perion Network by 7.7% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,919,039 shares of the technology company’s stock worth $48,552,000 after purchasing an additional 136,915 shares during the period. Hedge funds and other institutional investors own 50.94% of the company’s stock.

Perion Network Trading Up 0.6 %

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The company has a market cap of $1.48 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 0.64 and a beta of 1.26. The business has a 50 day simple moving average of $27.47 and a two hundred day simple moving average of $23.62.

Perion Network (NASDAQ:PERI – Get Rating) last issued its earnings results on Wednesday, November 9th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $158.62 million for the quarter, compared to analyst estimates of $158.00 million. Perion Network had a return on equity of 16.45% and a net margin of 13.29%. On average, equity research analysts expect that Perion Network Ltd. will post 2.03 earnings per share for the current fiscal year.

About Perion Network

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Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands, agencies, and publishers. It operates through the following geographical segments: North America (mainly US), Europe, and Other. The firm’s solutions include Publisher Platform, Search Monetization, SORT-Cookieless Targeting, High Impact Creative, and Actionable Monitoring.

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