Perion Network Ltd. (NASDAQ:PERI - Get Free Report) has been assigned an average rating of "Hold" from the six brokerages that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $12.13.
A number of research firms recently commented on PERI. Stifel Nicolaus dropped their price target on shares of Perion Network from $9.00 to $7.50 and set a "hold" rating for the company in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Perion Network in a research note on Tuesday, January 21st.
View Our Latest Research Report on PERI
Perion Network Stock Performance
Shares of PERI stock traded up $0.27 on Friday, reaching $9.95. The stock had a trading volume of 548,786 shares, compared to its average volume of 330,969. Perion Network has a 1 year low of $7.47 and a 1 year high of $29.84. The company has a 50 day simple moving average of $8.75 and a 200 day simple moving average of $8.47. The stock has a market cap of $478.89 million, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 0.80 and a beta of 1.48.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted 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 worth $397,000 after purchasing an additional 2,225 shares in the last quarter. Sei Investments Co. lifted its stake in Perion Network by 9.4% during the 2nd quarter. Sei Investments Co. now owns 59,343 shares of the technology company's stock worth $496,000 after acquiring an additional 5,078 shares in the last quarter. Equitable Trust Co. boosted its holdings in Perion Network by 19.1% during the 3rd quarter. Equitable Trust Co. now owns 65,770 shares of the technology company's stock valued at $518,000 after acquiring an additional 10,535 shares during the period. New York State Common Retirement Fund grew its position in Perion Network by 23.2% in the 4th quarter. New York State Common Retirement Fund now owns 82,480 shares of the technology company's stock valued at $699,000 after acquiring an additional 15,509 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Perion Network during the third quarter worth about $134,000. 68.12% of the stock is currently owned by hedge funds and other institutional investors.
About Perion Network
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Get Free ReportPerion 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.
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