Perion Network (NASDAQ:PERI) Shares Pass Above 200-Day Moving Average – What’s Next?

Perion Network Ltd (NASDAQ:PERI)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.02 and traded as high as $9.80. Perion Network shares last traded at $9.67, with a volume of 163,829 shares changing hands.

Wall Street Analyst Weigh In

PERI has been the topic of several research analyst reports. Wall Street Zen upgraded Perion Network from a “sell” rating to a “hold” rating in a report on Wednesday, May 21st. Lake Street Capital raised their price objective 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. Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.00 to $14.00 in a research note on Wednesday, May 14th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Wednesday, May 14th. Finally, Roth Capital set a $14.00 target price on shares of Perion Network in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Perion Network currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.13.

Perion Network Stock Down 0.5%

The business’s 50 day simple moving average is $9.73 and its two-hundred day simple moving average is $9.02. The stock has a market cap of $433.51 million, a P/E ratio of -56.88, a PEG ratio of 0.95 and a beta of 1.47.

Hedge Funds Weigh In On Perion Network

A number of hedge funds have recently modified their holdings of PERI. Sanctuary Advisors LLC acquired a new position in shares of Perion Network during the 4th quarter valued at $489,000. Sphera Management Technology Funds Ltd bought a new stake in Perion Network in the 4th quarter valued at about $995,000. Systematic Financial Management LP lifted its position in shares of Perion Network by 38.3% during the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock worth $5,489,000 after acquiring an additional 179,557 shares in the last quarter. Private Capital Management LLC boosted its position in shares of Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after acquiring an additional 598,228 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Perion Network during the fourth quarter worth about $755,000. 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.