Perion Network Ltd. (NASDAQ:PERI) Receives $12.13 Average PT from Brokerages

Shares of Perion Network Ltd. (NASDAQ:PERI) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.13.

A number of research analysts recently weighed in on PERI shares. Stifel Nicolaus decreased their price target on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Monday, October 14th. Lake Street Capital raised Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th.

Institutional Investors Weigh In On Perion Network

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in Perion Network by 43.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock valued at $14,367,000 after buying an additional 522,424 shares in the last quarter. Clearline Capital LP acquired a new position in shares of Perion Network during the 3rd quarter valued at about $2,221,000. Y.D. More Investments Ltd grew its holdings in shares of Perion Network by 580.4% in the second quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock valued at $2,191,000 after purchasing an additional 225,520 shares during the period. Squarepoint Ops LLC increased its position in Perion Network by 997.5% during the second quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock worth $1,117,000 after purchasing an additional 121,622 shares during the last quarter. Finally, ARK Investment Management LLC raised its stake in Perion Network by 156.9% during the second quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock worth $1,603,000 after purchasing an additional 117,253 shares during the period. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Stock Up 0.4 %

PERI opened at $8.55 on Tuesday. The firm’s fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $8.93. Perion Network has a 52-week low of $7.47 and a 52-week high of $32.99. The company has a market cap of $404.50 million, a price-to-earnings ratio of 9.19, a PEG ratio of 0.43 and a beta of 1.47.

About Perion Network

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.