Weiss Ratings Reaffirms Sell (D+) Rating for Perion Network (NASDAQ:PERI)

Key Points

• Weiss Ratings has reaffirmed a "sell (D+)" rating for Perion Network (NASDAQ:PERI), indicating continued negative sentiment towards the company’s stock.
• Despite the sell rating from Weiss, several other analysts have placed a "buy" rating on Perion, with a consensus price target of $14.00 for the shares.
• Perion Network has experienced significant interest from institutional investors, with holdings in the company increasing by over 200% from Osaic Holdings Inc. in the second quarter.

Perion Network (NASDAQ:PERI - Get Free Report)'s stock had its "sell (d+)" rating restated by Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

A number of other research analysts have also issued reports on PERI. Craig Hallum set a $14.00 target price on shares of Perion Network and gave the company a "buy" rating in a research note on Monday, October 13th. Lake Street Capital raised their price target 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. Finally, Wall Street Zen upgraded shares of Perion Network from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Perion Network currently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Perion Network Trading Up 2.4%

NASDAQ:PERI opened at $9.71 on Friday. Perion Network has a 1 year low of $6.99 and a 1 year high of $11.79. The firm's fifty day simple moving average is $9.44 and its 200 day simple moving average is $9.84. The firm has a market capitalization of $435.30 million, a PE ratio of -80.92, a PEG ratio of 0.86 and a beta of 1.54.

Hedge Funds Weigh In On Perion Network

Hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in shares of Perion Network by 209.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,721 shares of the technology company's stock worth $28,000 after acquiring an additional 1,843 shares during the period. Caption Management LLC bought a new position in shares of Perion Network during the 1st quarter worth about $60,000. Tripletail Wealth Management LLC bought a new position in shares of Perion Network during the 3rd quarter worth about $95,000. R Squared Ltd bought a new position in shares of Perion Network during the 2nd quarter worth about $116,000. Finally, Magnetar Financial LLC bought a new position in shares of Perion Network during the 2nd quarter worth about $144,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.