Perion Network (NASDAQ:PERI) Upgraded by Wall Street Zen to Buy Rating

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 stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other equities analysts have also commented on the stock. Lake Street Capital raised their target price on shares of Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Roth Mkm raised shares of Perion Network from a "neutral" rating to a "buy" rating and raised 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 shares of Perion Network in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a research note on Wednesday, May 14th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Perion Network has an average rating of "Moderate Buy" and a consensus target price of $12.38.

Perion Network Price Performance

Shares of NASDAQ:PERI traded down $0.20 during trading on Friday, reaching $9.06. 259,416 shares of the company were exchanged, compared to its average volume of 460,322. The firm has a market capitalization of $406.16 million, a PE ratio of -75.50, a P/E/G ratio of 0.91 and a beta of 1.43. The business's fifty day simple moving average is $10.32 and its 200-day simple moving average is $9.54. Perion Network has a 12-month low of $6.99 and a 12-month high of $11.79.

Hedge Funds Weigh In On Perion Network

Hedge funds and other institutional investors have recently modified their holdings of the business. Value Base Ltd. acquired a new stake in Perion Network in the first quarter valued at approximately $18,799,000. Phoenix Financial Ltd. boosted its stake in Perion Network by 2.5% in the first quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company's stock valued at $18,554,000 after acquiring an additional 54,909 shares in the last quarter. Sphera Management Technology Funds Ltd acquired a new stake in Perion Network in the fourth quarter valued at approximately $995,000. Systematic Financial Management LP boosted its stake in Perion Network by 38.3% in the fourth 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 in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in Perion Network by 98.3% in the first quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company's stock valued at $554,000 after acquiring an additional 33,765 shares in the last quarter. 68.12% of the stock is currently 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.