Perion Network (NASDAQ:PERI) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Perion Network Ltd (NASDAQ:PERI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.22 and traded as high as $11.30. Perion Network shares last traded at $11.02, with a volume of 271,753 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PERI shares. 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 report on Tuesday, July 1st. Roth Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and increased their price target for the company from $9.00 to $14.00 in a research report on Wednesday, May 14th. Wall Street Zen upgraded Perion Network from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Finally, Roth Capital set a $14.00 price objective on Perion Network in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.38.

Perion Network Trading Up 1.9%

The stock has a market cap of $501.14 million, a P/E ratio of -65.76, a PEG ratio of 1.08 and a beta of 1.44. The stock's fifty day moving average price is $10.33 and its 200 day moving average price is $9.23.

Institutional Trading of Perion Network

Several large investors have recently made changes to their positions in the company. Fox Run Management L.L.C. grew its stake in shares of Perion Network by 146.0% in the 4th quarter. Fox Run Management L.L.C. now owns 36,712 shares of the technology company's stock valued at $311,000 after purchasing an additional 21,790 shares during the last quarter. Perkins Capital Management Inc. raised its position in shares of Perion Network by 4.2% during the 4th quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company's stock valued at $470,000 after acquiring an additional 2,240 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Perion Network by 8.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company's stock worth $294,000 after purchasing an additional 2,711 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Perion Network in the 4th quarter worth about $755,000. Finally, Perritt Capital Management Inc acquired a new position in shares of Perion Network during the 4th quarter valued at about $127,000. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

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.