Perion Network Ltd. (NASDAQ:PERI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Perion Network Ltd. (NASDAQ:PERI) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $12.13.

A number of research analysts have commented on the stock. Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $14.00 in a research report on Wednesday, May 14th. Lake Street Capital increased their price target on shares of Perion Network from $10.50 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Wall Street Zen upgraded shares of Perion Network from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Wednesday, May 14th. Finally, Roth Capital set a $14.00 price objective on Perion Network in a research note on Wednesday, May 14th.

Institutional Trading of Perion Network

Institutional investors have recently made changes to their positions in the stock. Value Base Ltd. purchased a new stake in Perion Network in the first quarter worth $18,799,000. Private Capital Management LLC lifted its stake in Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock worth $18,816,000 after acquiring an additional 598,228 shares during the period. Murchinson Ltd. purchased a new stake in Perion Network in the first quarter worth $2,274,000. Systematic Financial Management LP lifted its stake in Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock worth $5,489,000 after acquiring an additional 179,557 shares during the period. Finally, Sphera Management Technology Funds Ltd purchased a new stake in Perion Network in the fourth quarter worth $995,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

Shares of NASDAQ PERI opened at $9.46 on Friday. Perion Network has a one year low of $7.00 and a one year high of $11.79. The firm’s 50 day simple moving average is $9.64 and its two-hundred day simple moving average is $9.00. The stock has a market capitalization of $424.04 million, a P/E ratio of 36.39, a PEG ratio of 0.76 and a beta of 1.47.

Perion Network Company Profile

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.