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

Shares of Perion Network Ltd. (NASDAQ:PERI) have been assigned an average recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. Five investment 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 have recently weighed in on PERI shares. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th. Lake Street Capital raised Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus lowered their target price on 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 Up 0.1 %

Shares of PERI stock opened at $8.43 on Tuesday. The business has a 50-day moving average price of $8.19 and a two-hundred day moving average price of $9.03. Perion Network has a 12-month low of $7.47 and a 12-month high of $32.99. The firm has a market cap of $398.80 million, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 0.42 and a beta of 1.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PERI. B. Riley Wealth Advisors Inc. purchased a new position in shares of Perion Network during the 1st quarter worth approximately $204,000. BigSur Wealth Management LLC bought a new position in Perion Network in the 2nd quarter valued at approximately $84,000. Pitcairn Co. lifted its position in Perion Network by 9.0% in the 1st quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock valued at $279,000 after acquiring an additional 1,027 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Perion Network by 17.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock valued at $128,000 after buying an additional 2,299 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Perion Network by 9.7% during the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock valued at $138,000 after buying an additional 1,468 shares during the period. 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.