Perion Network Ltd. (NASDAQ:PERI) Receives $12.13 Average Price Target from Brokerages

Shares of Perion Network Ltd. (NASDAQ:PERI) have been given an average recommendation of “Hold” by the six research firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $12.13.

Several brokerages recently commented on PERI. Stifel Nicolaus reduced their target price on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in shares of Perion Network by 43.5% in the second 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 during the last quarter. Renaissance Technologies LLC boosted its holdings in Perion Network by 4.4% in the second quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock valued at $11,136,000 after acquiring an additional 55,745 shares during the last quarter. Clearline Capital LP acquired a new stake in Perion Network in the third quarter worth about $2,221,000. Y.D. More Investments Ltd lifted its position in Perion Network by 580.4% during the 2nd quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock valued at $2,191,000 after purchasing an additional 225,520 shares during the period. Finally, ARK Investment Management LLC grew its position in shares of Perion Network by 24.2% during the 3rd quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company’s stock worth $1,880,000 after buying an additional 46,542 shares during the period. Institutional investors own 68.12% of the company’s stock.

Perion Network Stock Down 4.2 %

Perion Network stock opened at $8.22 on Friday. Perion Network has a 12 month low of $7.47 and a 12 month high of $31.60. The stock has a market cap of $388.86 million, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 0.47 and a beta of 1.47. The business has a 50 day moving average price of $8.49 and a two-hundred day moving average price of $8.56.

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.