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

Shares of Perion Network Ltd. (NASDAQ:PERI) have received a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $12.13.

Several brokerages have issued reports on PERI. Stifel Nicolaus dropped 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. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th.

Perion Network Trading Up 0.4 %

Shares of Perion Network stock opened at $8.21 on Friday. The company has a fifty day simple moving average of $8.50 and a 200-day simple moving average of $8.56. Perion Network has a 12-month low of $7.47 and a 12-month high of $31.60. The stock has a market cap of $388.39 million, a price-to-earnings ratio of 8.83, a PEG ratio of 0.47 and a beta of 1.47.

Institutional Trading of Perion Network

Hedge funds have recently added to or reduced their stakes in the stock. BigSur Wealth Management LLC purchased a new position in Perion Network during the second quarter worth about $84,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Perion Network by 17.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock worth $128,000 after acquiring an additional 2,299 shares during the period. Point72 Asset Management L.P. purchased a new position in Perion Network in the third quarter worth $134,000. Van ECK Associates Corp lifted its holdings in Perion Network by 9.7% in the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock valued at $138,000 after acquiring an additional 1,468 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Perion Network during the 3rd quarter worth $150,000. 68.12% of the stock is 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.