Perion Network Ltd. (NASDAQ:PERI) Given Consensus Recommendation of “Hold” by Analysts

Perion Network Ltd. (NASDAQ:PERI) has received a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat 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 brokerages that have issued ratings on the stock in the last year is $12.13.

Several research analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, November 7th. Stifel Nicolaus decreased their target price on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Monday, October 14th.

Hedge Funds Weigh In On Perion Network

A number of institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC raised 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 worth $14,367,000 after purchasing an additional 522,424 shares during the period. Renaissance Technologies LLC raised its stake in shares of Perion Network by 4.4% in the second 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 period. Clearline Capital LP purchased a new position in shares of Perion Network during the 3rd quarter valued at about $2,221,000. Y.D. More Investments Ltd increased its holdings in Perion Network by 580.4% in the 2nd 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 in the last quarter. Finally, ARK Investment Management LLC increased its holdings in Perion Network by 24.2% in the 3rd quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company’s stock worth $1,880,000 after acquiring an additional 46,542 shares in the last quarter. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network Stock Down 1.6 %

Shares of PERI stock opened at $8.55 on Friday. Perion Network has a 12-month low of $7.47 and a 12-month high of $32.99. The company has a 50 day moving average of $8.45 and a 200-day moving average of $8.67. The firm has a market cap of $404.50 million, a P/E ratio of 9.19, a PEG ratio of 0.47 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.