Lake Street Capital Increases Perion Network (NASDAQ:PERI) Price Target to $14.00

Perion Network (NASDAQ:PERI) had its target price lifted by equities researchers at Lake Street Capital from $13.00 to $14.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective indicates a potential upside of 27.04% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Wednesday, May 14th. Wall Street Zen raised Perion Network from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. Roth Mkm raised Perion Network from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.00 to $14.00 in a research report on Wednesday, May 14th. Finally, Roth Capital set a $14.00 target price on Perion Network in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.38.

Perion Network Trading Up 1.6%

Shares of PERI stock opened at $11.02 on Tuesday. The business’s fifty day simple moving average is $10.09 and its 200-day simple moving average is $9.09. The company has a market cap of $494.03 million, a PE ratio of -64.82, a PEG ratio of 1.06 and a beta of 1.44. Perion Network has a 12-month low of $7.00 and a 12-month high of $11.79.

Institutional Investors Weigh In On Perion Network

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sphera Management Technology Funds Ltd acquired a new stake in Perion Network during the 4th quarter worth about $995,000. Systematic Financial Management LP grew its position in Perion Network by 38.3% during the 4th 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. GHP Investment Advisors Inc. grew its position in Perion Network by 98.3% during the 1st quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company’s stock worth $554,000 after purchasing an additional 33,765 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Perion Network during the 4th quarter worth about $755,000. Finally, Clearline Capital LP grew its position in Perion Network by 20.5% during the 4th quarter. Clearline Capital LP now owns 339,705 shares of the technology company’s stock worth $2,877,000 after purchasing an additional 57,880 shares during the period. 68.12% of the stock is owned by institutional investors and hedge funds.

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.