Perion Network Ltd (NASDAQ:PERI) Receives $12.38 Average PT from Brokerages

Perion Network Ltd (NASDAQ:PERI) has received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $12.38.

A number of analysts have commented on PERI shares. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Wednesday, May 14th. Wall Street Zen upgraded shares of Perion Network from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and boosted their price target for the company from $9.00 to $14.00 in a research note on Wednesday, May 14th. Lake Street Capital boosted their price target on shares of Perion Network from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, July 1st. Finally, Roth Capital set a $14.00 target price on shares of Perion Network in a research note on Wednesday, May 14th.

Institutional Investors Weigh In On Perion Network

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in shares of Perion Network during the 4th quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Perion Network during the 4th quarter worth approximately $45,000. Caption Management LLC purchased a new stake in shares of Perion Network during the 1st quarter worth approximately $60,000. Perritt Capital Management Inc purchased a new stake in shares of Perion Network during the 4th quarter worth approximately $127,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Perion Network during the 1st quarter worth approximately $160,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Trading Up 0.6%

Shares of PERI stock opened at $11.09 on Thursday. The firm has a market capitalization of $497.16 million, a PE ratio of -65.24, a price-to-earnings-growth ratio of 1.07 and a beta of 1.44. The firm has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $9.13. Perion Network has a 12 month low of $7.00 and a 12 month high of $11.79.

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.