Perion Network (NASDAQ:PERI) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

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 stock 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. 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 shares of Perion Network from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $9.00 to $14.00 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. Roth Capital set a $14.00 target price on shares of Perion Network in a research report on Wednesday, May 14th. Finally, Lake Street Capital lifted their price target on shares of Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.38.

Perion Network Price Performance

The business's 50-day moving average price is $10.49 and its 200-day moving average price is $9.53. The firm has a market capitalization of $411.99 million, a PE ratio of -54.06, a price-to-earnings-growth ratio of 1.00 and a beta of 1.43.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PERI. Russell Investments Group Ltd. acquired a new position in Perion Network in the 4th quarter valued at about $41,000. Caption Management LLC purchased a new position in shares of Perion Network in the 1st quarter valued at approximately $60,000. R Squared Ltd purchased a new position in shares of Perion Network in the 2nd quarter valued at approximately $116,000. NewEdge Advisors LLC acquired a new position in shares of Perion Network in the first quarter valued at approximately $160,000. Finally, State of Wyoming raised its stake in shares of Perion Network by 217.2% during the fourth quarter. State of Wyoming now owns 19,676 shares of the technology company's stock worth $167,000 after purchasing an additional 13,472 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors and hedge funds.

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.

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