Perion Network Ltd. (NASDAQ:PERI) Receives $12.13 Consensus Target Price from Brokerages

Shares of Perion Network Ltd. (NASDAQ:PERI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five ratings firms that are presently covering the stock, Marketbeat Ratings 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 target price among brokerages that have updated their coverage on the stock in the last year is $12.13.

A number of analysts recently commented on the stock. Roth Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $9.00 to $14.00 in a research note on Wednesday, May 14th. Lake Street Capital lifted their price target on Perion Network from $10.50 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a report on Wednesday, May 14th. Wall Street Zen upgraded Perion Network from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Roth Capital set a $14.00 target price on Perion Network in a report on Wednesday, May 14th.

Hedge Funds Weigh In On Perion Network

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Capital Management LLC grew its holdings in Perion Network by 33.4% during the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock worth $18,816,000 after acquiring an additional 598,228 shares during the period. Value Base Ltd. purchased a new stake in Perion Network in the 1st quarter worth approximately $18,799,000. Phoenix Financial Ltd. grew its stake in shares of Perion Network by 2.5% during 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 increased its holdings in shares of Perion Network by 10.0% during the 1st quarter. Systematic Financial Management LP now owns 713,177 shares of the technology company's stock valued at $5,805,000 after purchasing an additional 65,092 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Perion Network by 23.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company's stock valued at $2,798,000 after purchasing an additional 64,442 shares during the period. Institutional investors and hedge funds own 68.12% of the company's stock.

Perion Network Price Performance

Perion Network stock traded down $0.32 during midday trading on Friday, reaching $9.90. The company's stock had a trading volume of 254,375 shares, compared to its average volume of 453,999. The stock has a market capitalization of $443.54 million, a P/E ratio of 38.06, a PEG ratio of 0.76 and a beta of 1.47. The stock's 50-day simple moving average is $9.50 and its 200-day simple moving average is $8.97. Perion Network has a 52-week low of $7.00 and a 52-week high of $11.79.

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.