Needham & Company LLC Reiterates Hold Rating for Perion Network (NASDAQ:PERI)

Perion Network (NASDAQ:PERI)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a report issued on Tuesday,Benzinga reports.

Separately, Stifel Nicolaus cut their target price on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.13.

Perion Network Price Performance

Shares of NASDAQ PERI opened at $8.87 on Tuesday. The business’s fifty day moving average price is $8.66 and its 200-day moving average price is $8.43. Perion Network has a one year low of $7.47 and a one year high of $31.38. The stock has a market capitalization of $426.91 million, a PE ratio of 9.54, a P/E/G ratio of 0.79 and a beta of 1.46.

Institutional Investors Weigh In On Perion Network

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in Perion Network during the third quarter valued at approximately $134,000. XTX Topco Ltd bought a new position in Perion Network in the 3rd quarter valued at $150,000. Hsbc Holdings PLC purchased a new position in shares of Perion Network during the 2nd quarter valued at $157,000. State of New Jersey Common Pension Fund D increased its holdings in shares of Perion Network by 38.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 46,026 shares of the technology company’s stock worth $384,000 after purchasing an additional 12,875 shares during the period. Finally, Tidal Investments LLC boosted its stake in Perion Network by 4.6% during the third quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock valued at $397,000 after buying an additional 2,225 shares during the period. 68.12% of the stock is currently owned by institutional investors.

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.