Perion Network (NASDAQ:PERI) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Perion Network's stock price has recently surpassed its 200-day moving average, rising from $9.53 to a high of $10.83 during trading.
• Analysts have upgraded Perion Network's stock rating, with Roth Mkm increasing the price target from $9.00 to $14.00, suggesting a positive outlook.
• Institutional ownership stands at 68.12%, with several firms acquiring new shares in recent months, indicating growing investor interest.

Perion Network Ltd (NASDAQ:PERI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.53 and traded as high as $10.83. Perion Network shares last traded at $9.19, with a volume of 1,348,565 shares traded.

Wall Street Analysts Forecast Growth

PERI has been the topic of several analyst reports. Wall Street Zen upgraded shares of Perion Network from a "hold" rating to a "buy" rating in a report on Saturday. Roth Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $9.00 to $14.00 in a report on Wednesday, May 14th. Roth Capital set a $14.00 price target on shares of Perion Network in a report on Wednesday, May 14th. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a report on Wednesday, May 14th. Finally, Lake Street Capital boosted their price target 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.38.

Perion Network Trading Up 4.2%

The company has a market capitalization of $410.19 million, a P/E ratio of -76.25, a P/E/G ratio of 0.86 and a beta of 1.43. The business's fifty day moving average price is $10.38 and its 200-day moving average price is $9.53.

Institutional Trading of Perion Network

Hedge funds have recently made changes to their positions in the stock. Value Base Ltd. purchased a new stake in Perion Network during the 1st quarter valued at $18,799,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Perion Network by 37.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,511,885 shares of the technology company's stock valued at $15,346,000 after acquiring an additional 415,912 shares during the period. Murchinson Ltd. purchased a new position in Perion Network during the 1st quarter valued at about $2,274,000. Systematic Financial Management LP lifted its position in Perion Network by 38.3% during the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock valued at $5,489,000 after acquiring an additional 179,557 shares during the period. Finally, Sphera Management Technology Funds Ltd purchased a new position in Perion Network during the 4th quarter valued at about $995,000. 68.12% of the stock is owned by institutional investors.

About Perion Network

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.