Perion Network Ltd (NASDAQ:PERI) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Perion Network Ltd (NASDAQ:PERI) has received an average consensus rating of "Hold" from analysts, with a mix of recommendations including one sell, two holds, and three buys.
• The company's shares opened at $9.21 and have a twelve-month average price target of $12.3750 from brokers.
• Institutional investors own approximately 68.12% of Perion Network's stock, with several hedge funds increasing their positions recently, including Osaic Holdings Inc. by 209.9%.

Shares of Perion Network Ltd (NASDAQ:PERI - Get Free Report) have been assigned a consensus rating of "Hold" from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $12.3750.

A number of research firms recently commented on PERI. Wall Street Zen raised shares of Perion Network from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Weiss Ratings reissued a "sell (d+)" rating on shares of Perion Network in a report on Wednesday. Finally, 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 report on Tuesday, July 1st.

Perion Network Trading Down 3.3%

PERI stock opened at $9.21 on Friday. The company has a market cap of $412.88 million, a P/E ratio of -76.75, a P/E/G ratio of 0.84 and a beta of 1.54. Perion Network has a 52 week low of $6.99 and a 52 week high of $11.79. The company's 50-day moving average price is $9.46 and its 200 day moving average price is $9.70.

Hedge Funds Weigh In On Perion Network

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its position in Perion Network by 209.9% during the second 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 during the last quarter. State of Wyoming raised its position in Perion Network by 11.0% during the second quarter. State of Wyoming now owns 22,147 shares of the technology company's stock worth $225,000 after acquiring an additional 2,196 shares during the last quarter. LPL Financial LLC raised its position in Perion Network by 2.8% during the first quarter. LPL Financial LLC now owns 243,563 shares of the technology company's stock worth $1,983,000 after acquiring an additional 6,649 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Perion Network by 20.0% during the second quarter. Balyasny Asset Management L.P. now owns 42,115 shares of the technology company's stock worth $427,000 after acquiring an additional 7,028 shares during the last quarter. Finally, Caption Management LLC acquired a new position in Perion Network during the first quarter worth about $60,000. Institutional investors and hedge funds 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.

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