Perion Network Ltd. (NASDAQ:PERI) Receives Consensus Rating of “Hold” from Brokerages

Perion Network Ltd. (NASDAQ:PERI) has been given a consensus rating of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $12.13.

A number of research firms have recently issued reports on PERI. Stifel Nicolaus lowered their target price on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Monday, October 14th. Lake Street Capital raised shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, July 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th.

Institutional Investors Weigh In On Perion Network

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Perion Network by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock worth $33,387,000 after acquiring an additional 35,476 shares in the last quarter. Pitcairn Co. lifted its position in shares of Perion Network by 9.0% in the 1st quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock worth $279,000 after buying an additional 1,027 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Perion Network in the 1st quarter worth about $204,000. Tidal Investments LLC acquired a new stake in Perion Network during the first quarter worth about $851,000. Finally, Cetera Advisors LLC bought a new position in Perion Network in the first quarter worth about $394,000. Institutional investors own 68.12% of the company’s stock.

Perion Network Trading Up 1.7 %

Shares of NASDAQ PERI opened at $8.52 on Tuesday. The stock has a fifty day moving average price of $8.18 and a 200 day moving average price of $9.07. Perion Network has a 12-month low of $7.47 and a 12-month high of $32.99. The company has a market cap of $403.06 million, a P/E ratio of 9.16, a P/E/G ratio of 0.42 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.