Perion Network (NASDAQ:PERI) Shares Pass Above 200-Day Moving Average - Here's What Happened

Perion Network Ltd (NASDAQ:PERI - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.02 and traded as high as $9.80. Perion Network shares last traded at $9.67, with a volume of 163,829 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PERI shares. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Wall Street Zen raised Perion Network from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Roth Mkm raised Perion Network from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.00 to $14.00 in a research report on Wednesday, May 14th. Roth Capital set a $14.00 target price on Perion Network in a research report on Wednesday, May 14th. Finally, Lake Street Capital boosted their price target on Perion Network from $10.50 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.13.

Perion Network Trading Down 0.7%

The stock has a 50 day simple moving average of $9.83 and a 200-day simple moving average of $9.02. The firm has a market capitalization of $424.54 million, a P/E ratio of -55.71, a P/E/G ratio of 0.93 and a beta of 1.47.

Institutional Investors Weigh In On Perion Network

A number of large investors have recently made changes to their positions in the company. Perkins Capital Management Inc. grew its stake 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 purchasing an additional 2,240 shares during the period. Two Sigma Advisers LP lifted its position in shares of Perion Network by 2.2% during the 4th quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company's stock valued at $988,000 after buying an additional 2,500 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Perion Network by 8.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company's stock valued at $294,000 after buying an additional 2,711 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Perion Network during the 4th quarter valued at about $41,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Perion Network during the 4th quarter valued at about $45,000. 68.12% of the stock is currently owned by 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.