Brokerages Set Perion Network Ltd. (NASDAQ:PERI) Price Target at $12.13

Shares of Perion Network Ltd. (NASDAQ:PERI) have earned a consensus recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $12.13.

Several research firms recently issued reports on PERI. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research note on Thursday, November 7th. Stifel Nicolaus cut their target price on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research note on Monday, October 14th.

Institutional Investors Weigh In On Perion Network

Large investors have recently modified their holdings of the company. Squarepoint Ops LLC raised its holdings in Perion Network by 997.5% during the second quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock worth $1,117,000 after purchasing an additional 121,622 shares in the last quarter. Y.D. More Investments Ltd lifted 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. ARK Investment Management LLC grew its holdings in Perion Network by 156.9% during the second quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock worth $1,603,000 after acquiring an additional 117,253 shares during the period. GSA Capital Partners LLP grew its holdings in Perion Network by 436.2% during the third quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock worth $603,000 after acquiring an additional 62,204 shares during the period. Finally, PDT Partners LLC raised its position in Perion Network by 58.8% in the third quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock worth $1,382,000 after acquiring an additional 64,936 shares in the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

Perion Network Stock Performance

Perion Network stock opened at $8.58 on Friday. The firm has a 50 day moving average price of $8.47 and a 200 day moving average price of $8.59. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $31.61. The company has a market capitalization of $405.89 million, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.47 and a beta of 1.47.

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.