Perion Network Ltd. (NASDAQ:PERI) Position Lessened by Altshuler Shaham Ltd

Altshuler Shaham Ltd trimmed its position in shares of Perion Network Ltd. (NASDAQ:PERI) by 98.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,028 shares of the technology company’s stock after selling 162,563 shares during the period. Altshuler Shaham Ltd’s holdings in Perion Network were worth $62,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PERI. Naples Money Management LLC acquired a new position in Perion Network during the fourth quarter worth $29,000. Blue Trust Inc. grew its position in shares of Perion Network by 42.3% in the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock valued at $51,000 after purchasing an additional 493 shares during the last quarter. AllSquare Wealth Management LLC grew its position in shares of Perion Network by 154.5% in the third quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company’s stock valued at $172,000 after purchasing an additional 3,400 shares during the last quarter. Bank of New York Mellon Corp grew its position in Perion Network by 12.0% during the third quarter. Bank of New York Mellon Corp now owns 7,353 shares of the technology company’s stock worth $225,000 after buying an additional 786 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Perion Network by 46.6% in the third quarter. HighTower Advisors LLC now owns 10,294 shares of the technology company’s stock valued at $312,000 after acquiring an additional 3,273 shares during the last quarter. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Perion Network from a “hold” rating to a “buy” rating in a research report on Monday. Roth Mkm restated a “neutral” rating and issued a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. Lake Street Capital restated a “hold” rating and issued a $16.00 price objective on shares of Perion Network in a research report on Monday, April 8th. Roth Capital cut shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Perion Network in a report on Thursday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.80.

Perion Network Trading Down 3.4 %

Shares of PERI stock traded down $0.43 on Thursday, hitting $12.22. The stock had a trading volume of 829,032 shares, compared to its average volume of 850,307. Perion Network Ltd. has a twelve month low of $10.77 and a twelve month high of $36.86. The firm has a market cap of $586.45 million, a P/E ratio of 5.41, a PEG ratio of 0.40 and a beta of 1.37. The company has a fifty day moving average price of $17.65 and a two-hundred day moving average price of $24.29.

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