Perion Network Ltd. (NASDAQ:PERI) Given Average Rating of "Hold" by Brokerages

Perion Network Ltd. (NASDAQ:PERI - Get Free Report) has received an average recommendation of "Hold" from the six research firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $12.13.

PERI has been the topic of several research analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Thursday, November 7th. Stifel Nicolaus dropped their price objective 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. Finally, Lake Street Capital upgraded shares of Perion Network from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a research note on Wednesday, July 31st.

Perion Network Trading Down 1.5 %

Shares of Perion Network stock traded down $0.13 during mid-day trading on Tuesday, hitting $8.39. 216,627 shares of the stock were exchanged, compared to its average volume of 663,201. Perion Network has a twelve month low of $7.47 and a twelve month high of $32.99. The stock has a market capitalization of $396.93 million, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 0.42 and a beta of 1.47. The company has a 50-day simple moving average of $8.18 and a 200 day simple moving average of $9.07.

Hedge Funds Weigh In On Perion Network

Several institutional investors and hedge funds have recently bought and sold shares of PERI. Acadian Asset Management LLC grew its stake in shares of Perion Network by 43.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company's stock valued at $14,367,000 after buying an additional 522,424 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Perion Network by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company's stock valued at $33,387,000 after buying an additional 35,476 shares in the last quarter. Renaissance Technologies LLC boosted its position in Perion Network by 4.4% during the second quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company's stock worth $11,136,000 after purchasing an additional 55,745 shares during the period. Clearline Capital LP bought a new stake in Perion Network during the third quarter worth approximately $2,221,000. Finally, Y.D. More Investments Ltd boosted its position in 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. Hedge funds and other institutional investors own 68.12% of the company's stock.

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.