Fintel reports that on July 10, 2023, Needham reiterated coverage of Perion Network (NASDAQ:PERI) with a Buy recommendation.
Analyst Price Forecast Suggests 11.52% Upside
As of July 6, 2023, the average one-year price target for Perion Network is 39.59. The forecasts range from a low of 31.01 to a high of $44.10. The average price target represents an increase of 11.52% from its latest reported closing price of 35.50.
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The projected annual revenue for Perion Network is 743MM, an increase of 12.60%. The projected annual non-GAAP EPS is 1.75.
What is the Fund Sentiment?
There are 301 funds or institutions reporting positions in Perion Network. This is an increase of 60 owner(s) or 24.90% in the last quarter. Average portfolio weight of all funds dedicated to PERI is 0.38%, an increase of 29.66%. Total shares owned by institutions increased in the last three months by 9.28% to 30,681K shares. 
The put/call ratio of PERI is 0.56, indicating a bullish outlook.
What are Other Shareholders Doing?
Migdal Insurance & Financial Holdings holds 1,919K shares representing 4.08% ownership of the company. No change in the last quarter.
Acadian Asset Management holds 1,804K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 1,789K shares, representing an increase of 0.82%. The firm increased its portfolio allocation in PERI by 40.40% over the last quarter.
Harel Insurance Investments & Financial Services holds 1,607K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 1,318K shares, representing an increase of 17.99%. The firm increased its portfolio allocation in PERI by 78.04% over the last quarter.
Renaissance Technologies holds 1,540K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 1,324K shares, representing an increase of 14.01%. The firm increased its portfolio allocation in PERI by 76.47% over the last quarter.
Private Capital Management holds 1,512K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 1,709K shares, representing a decrease of 12.99%. The firm increased its portfolio allocation in PERI by 18.65% over the last quarter.
Perion Network Background Information
(This description is provided by the company.)
Perion is a global technology company that delivers strategic business solutions that enable brands and advertisers to efficiently 'Capture and Convince' users across multiple platforms and channels, including interactive connected television - or iCTV. Perion achieves this through its Synchronized Digital Branding capabilities, which are focused on high impact creative; content monetization; its branded search network, in partnership with Microsoft Bing; and social media management that orchestrates and optimizes paid advertising. This diversification positions Perion for growth as budgets shift across categories.
Additional reading:
- Perion Network Expects 20% YoY Revenue Growth and 40% YoY Increase in Adjusted EBITDA in Second Quarter 2023 Company to announce second quarter 2023 financial results and updated annual outlook on August 2, 2023
- CALCULATION OF FEE TABLE FORM S-8 (Form Type) PERION NETWORK LTD. (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered Securities
- NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS to be held on June 21, 2023
- PERION NETWORK LTD. (THE “COMPANY”) THIS PROXY IS SOLICITED BY THE BOARD OF DIRECTORS
- Perion’s Momentum Continues, Delivering 16% Revenue Growth and 54% Increase in Net Income Company raises Annual Guidance, Reflecting Continued Media Margin Expansion and Strong Growth Drivers
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
