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

Shares of Perion Network Ltd. (NASDAQ:PERI) have received a consensus rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $12.13.

A number of research analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th. Lake Street Capital upgraded shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their target price on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a report on Monday, October 14th.

Perion Network Stock Up 0.4 %

Shares of Perion Network stock opened at $8.55 on Tuesday. The firm has a market cap of $404.50 million, a PE ratio of 9.19, a price-to-earnings-growth ratio of 0.43 and a beta of 1.47. Perion Network has a 52 week low of $7.47 and a 52 week high of $32.99. The business’s fifty day simple moving average is $8.21 and its 200-day simple moving average is $8.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Perion Network by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock valued at $33,387,000 after buying an additional 35,476 shares during the period. Pitcairn Co. grew its stake in Perion Network by 9.0% during the 1st quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock worth $279,000 after purchasing an additional 1,027 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Perion Network during the 1st quarter worth $204,000. Tidal Investments LLC purchased a new stake in Perion Network during the 1st quarter worth about $851,000. Finally, Cetera Advisors LLC acquired a new stake in Perion Network in the 1st quarter valued at about $394,000. Hedge funds and other institutional investors 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.