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

Perion Network Ltd. (NASDAQ:PERI) has received an average rating of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.13.

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

Perion Network Trading Down 1.1 %

Shares of PERI opened at $8.60 on Wednesday. The stock has a market capitalization of $413.89 million, a price-to-earnings ratio of 9.25, a PEG ratio of 0.45 and a beta of 1.46. Perion Network has a 12 month low of $7.47 and a 12 month high of $31.38. The firm has a fifty day simple moving average of $8.66 and a 200 day simple moving average of $8.41.

Institutional Investors Weigh In On Perion Network

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its stake in shares of 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 acquiring an additional 522,424 shares in the last quarter. Clearline Capital LP bought a new position in shares of Perion Network during the third quarter worth approximately $2,221,000. Y.D. More Investments Ltd increased its holdings in shares of Perion Network by 580.4% during the second quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock worth $2,191,000 after purchasing an additional 225,520 shares during the period. Squarepoint Ops LLC raised its position in shares of Perion Network by 997.5% in the second quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock valued at $1,117,000 after buying an additional 121,622 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Perion Network by 39.5% in the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after buying an additional 107,278 shares during the period. Institutional investors and hedge funds 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.