Perion Network Ltd. (NASDAQ:PERI) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Perion Network Ltd. (NASDAQ:PERI - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $12.13.

Several research analysts recently weighed in on PERI shares. Lake Street Capital boosted their target price on shares of Perion Network from $10.50 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Roth Mkm raised shares of Perion Network from a "neutral" rating to a "buy" rating and boosted 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 note on Wednesday, May 14th. Wall Street Zen raised shares of Perion Network from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a report on Wednesday, May 14th.

Perion Network Stock Up 0.5%

Shares of PERI opened at $10.26 on Friday. The company has a market capitalization of $459.90 million, a PE ratio of 39.46, a P/E/G ratio of 0.76 and a beta of 1.47. Perion Network has a 52-week low of $7.00 and a 52-week high of $11.79. The company has a 50-day simple moving average of $9.42 and a 200-day simple moving average of $8.95.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in shares of Perion Network by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company's stock worth $2,798,000 after acquiring an additional 64,442 shares in the last quarter. Murchinson Ltd. purchased a new stake in Perion Network during the 1st quarter worth $2,274,000. NewEdge Advisors LLC acquired a new stake in Perion Network in the 1st quarter valued at $160,000. PDT Partners LLC raised its position in Perion Network by 23.9% in the first quarter. PDT Partners LLC now owns 142,640 shares of the technology company's stock valued at $1,161,000 after purchasing an additional 27,543 shares during the period. Finally, Caption Management LLC purchased a new position in Perion Network in the first quarter valued at about $60,000. 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.

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