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

Perion Network Ltd. (NASDAQ:PERI) has been assigned an average rating of “Hold” from the six analysts that are presently covering the company, 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 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $12.13.

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

Perion Network Trading Down 1.6 %

NASDAQ:PERI opened at $8.55 on Friday. The stock has a 50-day moving average price of $8.45 and a 200 day moving average price of $8.67. Perion Network has a 12-month low of $7.47 and a 12-month high of $32.99. The stock has a market capitalization of $404.50 million, a P/E ratio of 9.19, a P/E/G ratio of 0.47 and a beta of 1.47.

Institutional Trading of Perion Network

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in shares of Perion Network by 43.5% in the second 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 last quarter. Renaissance Technologies LLC boosted 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 valued at $11,136,000 after buying an additional 55,745 shares during the period. Clearline Capital LP bought a new position in Perion Network in the 3rd quarter worth about $2,221,000. Y.D. More Investments Ltd increased its position in shares of Perion Network by 580.4% during the second 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 during the period. Finally, ARK Investment Management LLC raised its stake in shares of Perion Network by 24.2% during the third quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company’s stock valued at $1,880,000 after acquiring an additional 46,542 shares in the last quarter. 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.