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

Shares of Perion Network Ltd. (NASDAQ:PERI) have received an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to 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 brokerages have recently issued reports on PERI. Stifel Nicolaus lowered their price target on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a report on Monday, October 14th. Lake Street Capital upgraded shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Wednesday, July 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, November 7th.

Institutional Trading of Perion Network

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Perion Network by 67.8% during the third quarter. Geode Capital Management LLC now owns 57,975 shares of the technology company’s stock valued at $457,000 after acquiring an additional 23,423 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Perion Network in the 3rd quarter valued at $658,000. XTX Topco Ltd bought a new position in shares of Perion Network in the third quarter valued at $150,000. Petrus Trust Company LTA lifted its stake in shares of Perion Network by 363.0% in the third quarter. Petrus Trust Company LTA now owns 100,324 shares of the technology company’s stock valued at $791,000 after buying an additional 78,656 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Perion Network in the third quarter valued at $134,000. Institutional investors own 68.12% of the company’s stock.

Perion Network Stock Performance

Shares of NASDAQ:PERI opened at $8.52 on Tuesday. The company has a fifty day moving average of $8.20 and a 200-day moving average of $8.98. The company has a market capitalization of $403.08 million, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.42 and a beta of 1.47. Perion Network has a 52-week low of $7.47 and a 52-week high of $32.99.

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.