Brokerages Set Perion Network Ltd. (NASDAQ:PERI) PT at $12.13

Shares of Perion Network Ltd. (NASDAQ:PERI) have been given a consensus recommendation of “Hold” by the six research firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $12.13.

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a report on Thursday, November 7th. Stifel Nicolaus cut their target price on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Monday, October 14th.

Perion Network Price Performance

Shares of Perion Network stock opened at $8.69 on Wednesday. The firm has a fifty day moving average price of $8.66 and a 200 day moving average price of $8.41. Perion Network has a 1 year low of $7.47 and a 1 year high of $31.38. The stock has a market cap of $418.22 million, a PE ratio of 9.34, a price-to-earnings-growth ratio of 0.45 and a beta of 1.46.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after buying an additional 107,278 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Perion Network by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock valued at $397,000 after buying an additional 2,225 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Perion Network by 67.8% in the 3rd quarter. Geode Capital Management LLC now owns 57,975 shares of the technology company’s stock valued at $457,000 after buying an additional 23,423 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Perion Network during the 3rd quarter worth $658,000. Finally, XTX Topco Ltd acquired a new stake in Perion Network during the 3rd quarter worth $150,000. Institutional investors and hedge funds 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.