Brokerages Set Perion Network Ltd (NASDAQ:PERI) Target Price at $12.38

Perion Network Ltd (NASDAQ:PERI) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $12.38.

PERI has been the topic of a number of research analyst reports. Roth Mkm raised Perion Network from a “neutral” rating to a “buy” rating and upped their price target for the company from $9.00 to $14.00 in a report on Wednesday, May 14th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research report on Wednesday, May 14th. Lake Street Capital increased their target price on Perion Network from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, July 1st. Roth Capital set a $14.00 target price on Perion Network in a research report on Wednesday, May 14th. Finally, Wall Street Zen upgraded Perion Network from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st.

Perion Network Stock Down 1.1%

NASDAQ PERI opened at $10.78 on Monday. The stock’s 50 day moving average is $10.56 and its 200 day moving average is $9.44. Perion Network has a twelve month low of $6.99 and a twelve month high of $11.79. The firm has a market capitalization of $483.27 million, a PE ratio of -63.41, a P/E/G ratio of 1.07 and a beta of 1.44.

Institutional Investors Weigh In On Perion Network

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Perion Network during the 4th quarter worth approximately $41,000. Caption Management LLC bought a new stake in shares of Perion Network during the 1st quarter worth approximately $60,000. Perritt Capital Management Inc bought a new stake in shares of Perion Network during the 4th quarter worth approximately $127,000. NewEdge Advisors LLC bought a new stake in shares of Perion Network during the 1st quarter worth approximately $160,000. Finally, State of Wyoming increased its holdings in Perion Network by 217.2% during the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock worth $167,000 after purchasing an additional 13,472 shares during the period. Hedge funds and other institutional investors 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.