Perion Network (NASDAQ:PERI) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Perion Network (NASDAQ:PERI) in a research report sent to investors on Tuesday morning,Benzinga reports.

Separately, Stifel Nicolaus lowered their price target on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a report on Monday, October 14th. Six 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.com, the company currently has an average rating of “Hold” and an average price target of $12.13.

Perion Network Stock Performance

PERI opened at $8.91 on Tuesday. The firm has a market cap of $428.84 million, a P/E ratio of 9.58, a PEG ratio of 0.79 and a beta of 1.46. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $31.38. The firm has a 50-day moving average of $8.66 and a 200 day moving average of $8.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Perion Network by 4.4% during the second quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock worth $11,136,000 after acquiring an additional 55,745 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Perion Network by 39.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after purchasing an additional 107,278 shares in the last quarter. Clearline Capital LP bought a new position in Perion Network in the 3rd quarter worth about $2,221,000. ARK Investment Management LLC grew its holdings in 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 buying an additional 46,542 shares in the last quarter. Finally, PDT Partners LLC increased its position in shares of Perion Network by 58.8% during the third quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock valued at $1,382,000 after buying an additional 64,936 shares during the period. 68.12% of the stock is 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.