Zacks Investment Research upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. They currently have $3.50 target price on the technology company’s stock.
According to Zacks, “Perion Network Ltd. is a global technology company that delivers online advertising solutions and search monetization to brands and publishers. Perion is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. The company’s largest divisions are Undertone and CodeFuel. Undertone’s synchronized digital branding solution delivers award-winning creative experiences through cohesive stories to the world’s leading brands across the most important touchpoints, screens, and platforms. CodeFuel’s search solution platform empowers publishers to create new revenue streams and unique search experience by bringing monetization to content and application developers. “
Separately, TheStreet raised Perion Network from a d rating to a c rating in a research note on Tuesday, April 16th.
Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, February 13th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Perion Network had a return on equity of 10.33% and a net margin of 3.21%. The firm had revenue of $71.96 million during the quarter, compared to analyst estimates of $74.25 million. As a group, research analysts expect that Perion Network will post 0.32 EPS for the current fiscal year.
An institutional investor recently raised its position in Perion Network stock. Essex Investment Management Co. LLC lifted its stake in Perion Network Ltd (NASDAQ:PERI) by 73.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,017 shares of the technology company’s stock after buying an additional 43,774 shares during the period. Essex Investment Management Co. LLC owned approximately 0.40% of Perion Network worth $268,000 as of its most recent SEC filing. Institutional investors and hedge funds own 10.48% of the company’s stock.
Perion Network Company Profile
Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands and publishers through innovative platforms. It is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform.
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