Perion Network (NASDAQ:PERI) Shares Cross Above 200 Day Moving Average - Here's Why

Perion Network Ltd (NASDAQ:PERI - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.32 and traded as high as $11.29. Perion Network shares last traded at $11.19, with a volume of 250,873 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PERI. Lake Street Capital boosted their price target 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Perion Network in a report on Wednesday, May 14th. Wall Street Zen raised shares of Perion Network from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Roth Mkm raised shares of Perion Network from a "neutral" rating to a "buy" rating and upped their target price for the stock from $9.00 to $14.00 in a report on Wednesday, May 14th. Finally, Roth Capital set a $14.00 target price on shares of Perion Network in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Perion Network has an average rating of "Moderate Buy" and a consensus target price of $12.38.

Perion Network Stock Performance

The company has a market cap of $495.37 million, a PE ratio of -65.00, a PEG ratio of 1.09 and a beta of 1.44. The stock's 50 day moving average price is $10.55 and its 200-day moving average price is $9.40.

Institutional Investors Weigh In On Perion Network

Institutional investors have recently made changes to their positions in the business. Sphera Management Technology Funds Ltd purchased a new stake in shares of Perion Network in the 4th quarter valued at $995,000. Systematic Financial Management LP boosted its stake in shares of Perion Network by 38.3% in the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock valued at $5,489,000 after purchasing an additional 179,557 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Perion Network by 98.3% in the 1st quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company's stock valued at $554,000 after purchasing an additional 33,765 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Perion Network in the 4th quarter valued at $755,000. Finally, Clearline Capital LP boosted its stake in shares of Perion Network by 20.5% in the 4th quarter. Clearline Capital LP now owns 339,705 shares of the technology company's stock valued at $2,877,000 after purchasing an additional 57,880 shares in the last quarter. Hedge funds and other 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.