Needham & Company LLC Reiterates Hold Rating for Perion Network (NASDAQ:PERI)

Needham & Company LLC reaffirmed their hold rating on shares of Perion Network (NASDAQ:PERI) in a research note released on Tuesday morning,Benzinga reports.

Separately, Stifel Nicolaus decreased their price objective on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Perion Network presently has an average rating of “Hold” and an average target price of $12.13.

Perion Network Stock Up 0.5 %

Perion Network stock opened at $8.91 on Tuesday. The business has a 50-day simple moving average of $8.66 and a 200 day simple moving average of $8.43. Perion Network has a 52 week low of $7.47 and a 52 week high of $31.38. The stock has a market cap of $428.84 million, a price-to-earnings ratio of 9.58, a PEG ratio of 0.79 and a beta of 1.46.

Hedge Funds Weigh In On Perion Network

Several institutional investors have recently modified their holdings of PERI. Renaissance Technologies LLC lifted its position in Perion Network by 4.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock worth $11,136,000 after buying an additional 55,745 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after acquiring an additional 107,278 shares during the last quarter. Clearline Capital LP purchased a new stake in shares of Perion Network in the 3rd quarter valued at $2,221,000. ARK Investment Management LLC grew its holdings in shares of Perion Network by 24.2% during the 3rd quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company’s stock valued at $1,880,000 after purchasing an additional 46,542 shares during the last quarter. Finally, PDT Partners LLC raised its position in Perion Network by 58.8% in the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock worth $1,382,000 after purchasing an additional 64,936 shares during the period. 68.12% of the stock is currently owned by institutional investors.

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.