Perion Network Ltd. (NASDAQ:PERI) Receives $12.13 Average Price Target from Analysts

Shares of Perion Network Ltd. (NASDAQ:PERI) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $12.13.

Several analysts have commented on the company. Roth Capital set a $14.00 price objective on Perion Network in a research note on Wednesday, May 14th. Wall Street Zen raised Perion Network from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research note on Wednesday, May 14th. Lake Street Capital lifted their price target on shares of Perion Network from $10.50 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Finally, Roth Mkm raised Perion Network from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $14.00 in a research note on Wednesday, May 14th.

Perion Network Stock Performance

NASDAQ:PERI opened at $10.21 on Friday. The stock has a 50-day simple moving average of $9.50 and a 200-day simple moving average of $8.97. The stock has a market cap of $457.66 million, a P/E ratio of 39.27, a P/E/G ratio of 0.76 and a beta of 1.47. Perion Network has a 1 year low of $7.00 and a 1 year high of $11.79.

Hedge Funds Weigh In On Perion Network

A number of hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in Perion Network in the fourth quarter worth about $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Perion Network in the fourth quarter valued at approximately $45,000. Caption Management LLC bought a new position in shares of Perion Network in the 1st quarter worth $60,000. Perritt Capital Management Inc bought a new stake in Perion Network in the fourth quarter valued at about $127,000. Finally, NewEdge Advisors LLC acquired a new position in Perion Network in the first quarter valued at about $160,000. 68.12% of the stock is owned by institutional investors and hedge funds.

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.