Perion Network (NASDAQ:PERI) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Perion Network Ltd (NASDAQ:PERI)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.04 and traded as high as $10.02. Perion Network shares last traded at $9.92, with a volume of 193,754 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Roth Capital set a $14.00 target price on Perion Network in a report on Wednesday, May 14th. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a report on Wednesday, May 14th. Roth Mkm raised Perion Network from a “neutral” rating to a “buy” rating and raised their target price for the company from $9.00 to $14.00 in a report on Wednesday, May 14th. Lake Street Capital raised their price target on Perion Network from $10.50 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen upgraded Perion Network from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.13.

Perion Network Trading Up 1.0%

The firm has a 50-day moving average of $9.92 and a 200 day moving average of $9.04. The stock has a market capitalization of $444.71 million, a price-to-earnings ratio of -58.35, a price-to-earnings-growth ratio of 0.96 and a beta of 1.47.

Hedge Funds Weigh In On Perion Network

A number of institutional investors have recently made changes to their positions in PERI. Sanctuary Advisors LLC acquired a new position in Perion Network during the 4th quarter worth $489,000. Sphera Management Technology Funds Ltd acquired a new stake in shares of Perion Network during the 4th quarter valued at approximately $995,000. Systematic Financial Management LP boosted its holdings in Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock worth $5,489,000 after purchasing an additional 179,557 shares during the period. Private Capital Management LLC raised its holdings in shares of Perion Network by 33.4% during the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock worth $18,816,000 after purchasing an additional 598,228 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Perion Network in the 4th quarter worth about $755,000. 68.12% of the stock is owned by institutional investors and hedge funds.

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.