Perion Network Ltd (NASDAQ:PERI) Receives $12.38 Consensus Target Price from Analysts

Shares of Perion Network Ltd (NASDAQ:PERI - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $12.38.

PERI has been the topic of several research reports. Roth Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and raised their price objective for the company from $9.00 to $14.00 in a research report on Wednesday, May 14th. Roth Capital set a $14.00 price objective on shares of Perion Network 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 restated a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Finally, Lake Street Capital raised their price objective on shares of Perion Network from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st.

Perion Network Price Performance

NASDAQ:PERI traded up $0.07 during trading hours on Thursday, hitting $11.09. The stock had a trading volume of 87,802 shares, compared to its average volume of 403,458. The company has a 50 day simple moving average of $10.17 and a two-hundred day simple moving average of $9.13. The firm has a market capitalization of $497.16 million, a price-to-earnings ratio of -65.24, a P/E/G ratio of 1.07 and a beta of 1.44. Perion Network has a one year low of $7.00 and a one year high of $11.79.

Hedge Funds Weigh In On Perion Network

A number of large investors have recently added to or reduced their stakes in the business. Value Base Ltd. purchased a new position in Perion Network in the 1st quarter worth $18,799,000. Phoenix Financial Ltd. raised its position in Perion Network by 2.5% in the 1st quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company's stock worth $18,554,000 after purchasing an additional 54,909 shares during the period. Systematic Financial Management LP raised its position in Perion Network by 10.0% in the 1st quarter. Systematic Financial Management LP now owns 713,177 shares of the technology company's stock worth $5,805,000 after purchasing an additional 65,092 shares during the period. Goldman Sachs Group Inc. raised its position in Perion Network by 23.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company's stock worth $2,798,000 after purchasing an additional 64,442 shares during the period. Finally, Clearline Capital LP raised its position in Perion Network by 20.5% in the 4th quarter. Clearline Capital LP now owns 339,705 shares of the technology company's stock worth $2,877,000 after purchasing an additional 57,880 shares during the period. Hedge funds and other institutional investors own 68.12% of the company's stock.

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.