Perion Network (NASDAQ:PERI) Now Covered by Analysts at Craig Hallum

Key Points

• Perion Network's stock was upgraded to a "strong-buy" rating by Craig Hallum, reflecting increasing confidence in its performance.
• The stock has faced mixed ratings from analysts, with one Strong Buy, three Buy, one Hold, and one Sell rating, leading to an average rating of "Moderate Buy".
• Institutional investors own 68.12% of Perion Network, with significant increases in holdings by several hedge funds in the recent quarters.

Craig Hallum started coverage on shares of Perion Network (NASDAQ:PERI - Get Free Report) in a report released on Monday, MarketBeat reports. The firm set a "buy" rating on the technology company's stock.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Perion Network from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Weiss Ratings reissued a "sell (d+)" rating on shares of Perion Network in a research report on Wednesday, October 8th. Finally, Lake Street Capital lifted their price target on Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Perion Network currently has an average rating of "Moderate Buy" and an average target price of $14.00.

Perion Network Trading Down 1.0%

Shares of Perion Network stock opened at $9.69 on Monday. The company has a fifty day simple moving average of $9.43 and a 200-day simple moving average of $9.73. Perion Network has a 12-month low of $6.99 and a 12-month high of $11.79. The stock has a market cap of $434.27 million, a price-to-earnings ratio of -80.65, a PEG ratio of 0.85 and a beta of 1.54.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its holdings in Perion Network by 209.9% during the second quarter. Osaic Holdings Inc. now owns 2,721 shares of the technology company's stock worth $28,000 after purchasing an additional 1,843 shares in the last quarter. State of Wyoming boosted its holdings in Perion Network by 11.0% in the 2nd 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 in the last quarter. Exchange Traded Concepts LLC increased its position in Perion Network by 9.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 28,076 shares of the technology company's stock worth $270,000 after purchasing an additional 2,446 shares during the period. LPL Financial LLC raised its stake in shares of Perion Network by 2.8% during the 1st quarter. LPL Financial LLC now owns 243,563 shares of the technology company's stock worth $1,983,000 after buying an additional 6,649 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Perion Network by 20.0% in the 2nd quarter. Balyasny Asset Management L.P. now owns 42,115 shares of the technology company's stock valued at $427,000 after buying an additional 7,028 shares during the period. Institutional investors and hedge funds own 68.12% of the company's stock.

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.