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

Perion Network Ltd. (NASDAQ:PERI) has earned a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $12.13.

A number of equities research analysts recently issued reports on PERI shares. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a report on Thursday, November 7th. Stifel Nicolaus dropped their price target 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.

Perion Network Stock Down 1.1 %

Shares of NASDAQ:PERI opened at $8.60 on Wednesday. Perion Network has a 52-week low of $7.47 and a 52-week high of $31.38. The stock has a market cap of $413.89 million, a P/E ratio of 9.25, a PEG ratio of 0.45 and a beta of 1.46. The business has a fifty day moving average of $8.65 and a two-hundred day moving average of $8.41.

Hedge Funds Weigh In On Perion Network

Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its position in 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 valued at $14,367,000 after purchasing an additional 522,424 shares during the period. Clearline Capital LP acquired a new stake in shares of Perion Network in the third quarter valued at $2,221,000. Y.D. More Investments Ltd raised its holdings in shares of 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 valued at $2,191,000 after buying an additional 225,520 shares during the period. Squarepoint Ops LLC lifted its stake in Perion Network by 997.5% during the 2nd quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock worth $1,117,000 after acquiring an additional 121,622 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted 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 valued at $2,984,000 after acquiring an additional 107,278 shares during the period. 68.12% of the stock is currently owned by institutional investors and hedge funds.

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.