Perion Network Ltd. (NASDAQ:PERI) Given Consensus Rating of “Hold” by Brokerages

Perion Network Ltd. (NASDAQ:PERI) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.13.

Several brokerages have weighed in on PERI. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research note on Tuesday, January 21st. Stifel Nicolaus decreased their price target on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research report on Monday, October 14th.

Hedge Funds Weigh In On Perion Network

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its holdings in Perion Network by 4.6% in the third quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock valued at $397,000 after acquiring an additional 2,225 shares during the last quarter. Sei Investments Co. lifted its position in Perion Network by 9.4% during the 2nd quarter. Sei Investments Co. now owns 59,343 shares of the technology company’s stock valued at $496,000 after purchasing an additional 5,078 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Perion Network in the 4th quarter valued at about $45,000. Equitable Trust Co. grew its position in shares of Perion Network by 19.1% during the 3rd quarter. Equitable Trust Co. now owns 65,770 shares of the technology company’s stock worth $518,000 after buying an additional 10,535 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Perion Network by 23.2% during the fourth quarter. New York State Common Retirement Fund now owns 82,480 shares of the technology company’s stock worth $699,000 after buying an additional 15,509 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Perion Network Stock Performance

Shares of NASDAQ:PERI opened at $9.58 on Friday. The company has a market capitalization of $468.11 million, a PE ratio of 10.30, a P/E/G ratio of 0.80 and a beta of 1.48. The company’s fifty day moving average is $8.80 and its 200-day moving average is $8.49. Perion Network has a 52 week low of $7.47 and a 52 week high of $26.70.

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.