Brokerages Set Perion Network Ltd (NASDAQ:PERI) Target Price at $12.38

Key Points

• Perion Network Ltd (NASDAQ:PERI) has received an average rating of "Moderate Buy" from five analysts, with three rating it as a buy and two as a hold.
• The average price target for the stock is $12.3750, reflecting positive sentiment towards the company’s potential growth.
• Approximately 68.12% of Perion Network's stock is owned by institutional investors, indicating a significant level of confidence from larger financial entities.

Shares of Perion Network Ltd (NASDAQ:PERI - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $12.3750.

PERI has been the subject of a number of research reports. Wall Street Zen raised shares of Perion Network from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Lake Street Capital boosted their price objective on shares of Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st.

Perion Network Stock Up 0.3%

Perion Network stock traded up $0.03 during midday trading on Tuesday, reaching $9.83. The stock had a trading volume of 167,836 shares, compared to its average volume of 260,027. The firm has a market cap of $440.68 million, a price-to-earnings ratio of -81.92, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. The company has a fifty day moving average of $9.90 and a 200 day moving average of $9.57. Perion Network has a 52-week low of $6.99 and a 52-week high of $11.79.

Institutional Investors Weigh In On Perion Network

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its stake in Perion Network by 209.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,721 shares of the technology company's stock worth $28,000 after acquiring an additional 1,843 shares in the last quarter. State of Wyoming increased its position in shares of Perion Network by 11.0% during the second quarter. State of Wyoming now owns 22,147 shares of the technology company's stock valued at $225,000 after purchasing an additional 2,196 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Perion Network by 582.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 64,644 shares of the technology company's stock worth $656,000 after buying an additional 55,170 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Perion Network by 20.0% in the 2nd quarter. Balyasny Asset Management L.P. now owns 42,115 shares of the technology company's stock valued at $427,000 after purchasing an additional 7,028 shares in the last quarter. Finally, Jump Financial LLC raised its position in Perion Network by 38.8% in the 2nd quarter. Jump Financial LLC now owns 81,498 shares of the technology company's stock worth $827,000 after purchasing an additional 22,789 shares during the last quarter. Institutional investors own 68.12% of the company's stock.

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.