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

Perion Network Ltd. (NASDAQ:PERI) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $12.13.

Several research analysts recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of 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 on the stock in a research note on Wednesday, July 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th.

Perion Network Stock Up 1.7 %

NASDAQ PERI opened at $8.52 on Tuesday. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $32.99. The business has a fifty day moving average of $8.18 and a 200-day moving average of $9.07. The stock has a market cap of $403.06 million, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 0.42 and a beta of 1.47.

Hedge Funds Weigh In On Perion Network

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Perion Network by 67.8% in the 3rd quarter. Geode Capital Management LLC now owns 57,975 shares of the technology company’s stock worth $457,000 after buying an additional 23,423 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Perion Network in the 3rd quarter worth about $658,000. XTX Topco Ltd purchased a new position in shares of Perion Network in the 3rd quarter worth about $150,000. Petrus Trust Company LTA lifted its stake in shares of Perion Network by 363.0% in the 3rd quarter. Petrus Trust Company LTA now owns 100,324 shares of the technology company’s stock valued at $791,000 after purchasing an additional 78,656 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Perion Network during the 3rd quarter worth about $134,000. 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.