Perion Network (NASDAQ:PERI) Raised to "Buy" at Wall Street Zen

Key Points

• Perion Network has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling increased confidence in the stock.
• A total of four analysts have issued buy ratings for Perion Network, while two have rated it as a hold, resulting in a consensus rating of "Moderate Buy" and a price target of $12.38.
• Institutional investors hold 68.12% of Perion Network's stock, indicating strong interest from large investors in the company's shares.

Perion Network (NASDAQ:PERI - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently weighed in on PERI. 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 research report on Wednesday, May 14th. Lake Street Capital upped their target price on Perion Network from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Finally, Roth Mkm raised 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. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Perion Network presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.38.

Perion Network Price Performance

NASDAQ:PERI traded down $0.0650 on Friday, hitting $9.2850. 177,965 shares of the company's stock were exchanged, compared to its average volume of 429,265. The firm has a 50-day moving average price of $10.35 and a 200-day moving average price of $9.54. Perion Network has a 52 week low of $6.99 and a 52 week high of $11.79. The company has a market cap of $416.20 million, a P/E ratio of -77.38, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

Hedge Funds Weigh In On Perion Network

Hedge funds have recently modified their holdings of the stock. State of Wyoming boosted its holdings in Perion Network by 11.0% in the second quarter. State of Wyoming now owns 22,147 shares of the technology company's stock valued at $225,000 after purchasing an additional 2,196 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Perion Network by 582.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 64,644 shares of the technology company's stock valued at $656,000 after buying an additional 55,170 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Perion Network by 20.0% during the second quarter. Balyasny Asset Management L.P. now owns 42,115 shares of the technology company's stock valued at $427,000 after acquiring an additional 7,028 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Perion Network by 38.8% in the second quarter. Jump Financial LLC now owns 81,498 shares of the technology company's stock valued at $827,000 after purchasing an additional 22,789 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in Perion Network by 1.7% in the 2nd quarter. Systematic Financial Management LP now owns 725,071 shares of the technology company's stock valued at $7,359,000 after purchasing an additional 11,894 shares in the last quarter. Hedge funds and other institutional investors own 68.12% of the company's stock.

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.