Perion Network Ltd. (NASDAQ:PERI) Receives $12.13 Consensus Price Target from Analysts

Perion Network Ltd. (NASDAQ:PERI) has received an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $12.13.

A number of research analysts have weighed in on PERI shares. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, November 7th. 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.

Perion Network Trading Up 0.4 %

PERI stock opened at $8.58 on Friday. The business’s 50-day moving average is $8.47 and its 200 day moving average is $8.59. Perion Network has a 12-month low of $7.47 and a 12-month high of $31.61. The stock has a market cap of $405.89 million, a price-to-earnings ratio of 9.23, a PEG ratio of 0.47 and a beta of 1.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PERI. Acadian Asset Management LLC boosted 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 purchasing an additional 522,424 shares during the last quarter. Clearline Capital LP purchased a new position in Perion Network in the third quarter worth approximately $2,221,000. Y.D. More Investments Ltd increased its stake in Perion Network by 580.4% during the second quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock worth $2,191,000 after acquiring an additional 225,520 shares during the last quarter. Squarepoint Ops LLC raised its position in Perion Network by 997.5% in the second quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock valued at $1,117,000 after purchasing an additional 121,622 shares during the period. Finally, ARK Investment Management LLC lifted its stake in shares of Perion Network by 156.9% in the 2nd quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock valued at $1,603,000 after purchasing an additional 117,253 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Company Profile

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.