Key Points
- Perion Network director Michael Vorhaus sold 2,160 shares on July 1 at an average price of $9.70, totaling about $20,952. The sale reduced his holdings by 8.07% and was disclosed as being related to tax withholding on vested equity awards.
- PERI shares were trading around $9.40 and sit near both their 50-day and 200-day moving averages. The stock has ranged from $7.63 to $11.44 over the past year.
- Analysts remain cautiously positive on Perion Network, with a consensus rating of “Moderate Buy” and an average target price of $13.88. The company recently beat earnings expectations on EPS, though revenue came in slightly below forecasts.
Perion Network Ltd (NASDAQ:PERI - Get Free Report) Director Joy Sharon Marcus sold 1,689 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.77, for a total value of $16,501.53. Following the completion of the sale, the director owned 29,260 shares of the company's stock, valued at approximately $285,870.20. This represents a 5.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Perion Network Price Performance
Shares of Perion Network stock opened at $9.40 on Friday. The firm's fifty day simple moving average is $9.31 and its 200-day simple moving average is $9.32. Perion Network Ltd has a 12 month low of $7.63 and a 12 month high of $11.44. The stock has a market capitalization of $366.88 million, a price-to-earnings ratio of -37.60, a PEG ratio of 1.33 and a beta of 1.17.
Perion Network (NASDAQ:PERI - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $90.40 million for the quarter, compared to the consensus estimate of $91.74 million. Perion Network had a negative net margin of 2.17% and a positive return on equity of 3.34%. Analysts anticipate that Perion Network Ltd will post 0.38 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Equitable Trust Co. grew its holdings in shares of Perion Network by 1.5% during the fourth quarter. Equitable Trust Co. now owns 102,395 shares of the technology company's stock valued at $981,000 after buying an additional 1,500 shares in the last quarter. Osaic Holdings Inc. grew its position in Perion Network by 209.9% during the second quarter. Osaic Holdings Inc. now owns 2,721 shares of the technology company's stock valued at $28,000 after purchasing an additional 1,843 shares in the last quarter. SG Americas Securities LLC lifted its position in Perion Network by 21.9% in 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. State of Wyoming lifted its position in Perion Network by 11.0% in the 2nd quarter. State of Wyoming now owns 22,147 shares of the technology company's stock worth $225,000 after buying an additional 2,196 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Perion Network by 21.8% during the 3rd quarter. Squarepoint Ops LLC now owns 14,418 shares of the technology company's stock valued at $138,000 after buying an additional 2,581 shares during the period. Institutional investors and hedge funds own 68.12% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on PERI. Canaccord Genuity Group assumed coverage on Perion Network in a research report on Friday, March 20th. They set a "buy" rating and a $14.00 price objective for the company. Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a report on Tuesday, May 26th. Finally, Lake Street Capital set a $13.00 price target on Perion Network and gave the company a "buy" rating in a report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $13.88.
Get Our Latest Stock Analysis on Perion Network
Perion Network Company Profile
(
Get Free Report)
Perion Network Ltd. (NASDAQ: PERI) is a digital advertising technology company that offers a suite of solutions designed for both brand marketers and performance-driven advertisers. The firm's platform integrates search monetization, programmatic display, video and connected TV (CTV) advertising to help clients reach and engage audiences across desktop, mobile and television environments. Through proprietary algorithms and AI-driven tools, Perion's technology optimizes ad placements in real time, aiming to boost campaign efficiency and return on investment for publishers and advertisers alike.
Key offerings include search engine marketing services that cover major platforms such as Google and Bing, native and display advertising solutions under its Undertone brand, as well as social and video ad formats.
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