Perion Network (NASDAQ:PERI) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Perion Network Ltd (NASDAQ:PERI) shares crossed 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 Analysts Forecast Growth

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Wednesday, May 14th. Roth Capital set a $14.00 price objective on shares of Perion Network in a research report on Wednesday, May 14th. Lake Street Capital upped their price objective on shares of Perion Network from $10.50 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Roth Mkm raised shares of Perion Network from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $14.00 in a report on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Perion Network from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.13.

Perion Network Stock Down 0.5%

The business has a fifty day simple moving average of $9.73 and a 200 day simple moving average of $9.02. The company has a market cap of $433.51 million, a price-to-earnings ratio of -56.88, a P/E/G ratio of 0.95 and a beta of 1.47.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PERI. Russell Investments Group Ltd. acquired a new position in shares of Perion Network in the 4th quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new stake in Perion Network in the 4th quarter valued at about $45,000. Caption Management LLC acquired a new position in Perion Network in the 1st quarter worth approximately $60,000. Perritt Capital Management Inc acquired a new stake in Perion Network during the fourth quarter valued at $127,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Perion Network during the 1st quarter worth about $160,000. 68.12% of the stock is owned by hedge funds and other institutional investors.

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.