Perion Network (NASDAQ:PERI) Shares Gap Down to $31.78

Perion Network Ltd. (NASDAQ:PERI – Get Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $31.78, but opened at $29.95. Perion Network shares last traded at $30.95, with a volume of 1,004,039 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on PERI. Raymond James boosted their target price on shares of Perion Network from $32.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. Stifel Nicolaus downgraded Perion Network from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a research note on Monday, April 24th. Needham & Company LLC boosted their price target on Perion Network from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, March 22nd. Oppenheimer increased their price target on Perion Network from $37.00 to $42.00 in a report on Thursday, May 4th. Finally, Lake Street Capital lifted their price objective on Perion Network from $38.00 to $40.00 in a report on Thursday, May 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Perion Network has an average rating of “Moderate Buy” and an average target price of $39.80.

Perion Network Stock Performance

The company has a market cap of $1.43 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.49 and a beta of 1.29. The business has a fifty day simple moving average of $36.31 and a 200 day simple moving average of $31.76.

Institutional Trading of Perion Network

A number of institutional investors and hedge funds have recently modified their holdings of the business. Trivant Custom Portfolio Group LLC bought a new stake in shares of Perion Network during the 1st quarter valued at about $40,000. BNP Paribas Arbitrage SNC bought a new position in shares of Perion Network during the third quarter valued at approximately $58,000. Tucker Asset Management LLC acquired a new stake in shares of Perion Network during the 1st quarter worth approximately $61,000. State of Wyoming bought a new stake in shares of Perion Network in the 4th quarter worth approximately $61,000. Finally, Deutsche Bank AG acquired a new position in Perion Network during the 4th quarter valued at approximately $71,000. 50.94% of the stock is owned by institutional investors and hedge funds.

About Perion Network

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Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands, agencies, and publishers. It operates through the following geographical segments: North America (mainly US), Europe, and Other. The firm solutions include Publisher Platform, Search Monetization, SORT-Cookieless Targeting, High Impact Creative, and Actionable Monitoring.