Perion Network (NASDAQ:PERI) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Perion Network Ltd (NASDAQ:PERI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.92 and traded as high as $10.32. Perion Network shares last traded at $10.17, with a volume of 282,275 shares trading hands.

Analyst Ratings Changes

Several brokerages have issued reports on PERI. Craig Hallum set a $14.00 target price on Perion Network and gave the company a “buy” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Perion Network in a research note on Wednesday, October 8th. Roth Capital reissued a “buy” rating and set a $14.50 target price (up previously from $14.00) on shares of Perion Network in a report on Thursday, November 13th. Wall Street Zen raised shares of Perion Network from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Finally, Lake Street Capital boosted their price objective on Perion Network from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.38.

Perion Network Stock Up 1.9%

The business has a 50-day simple moving average of $9.66 and a 200-day simple moving average of $9.92. The company has a market cap of $417.07 million, a PE ratio of -39.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.60.

Hedge Funds Weigh In On Perion Network

A number of hedge funds and other institutional investors have recently bought and sold shares of PERI. Migdal Insurance & Financial Holdings Ltd. increased its stake in Perion Network by 37.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,511,885 shares of the technology company’s stock worth $15,346,000 after buying an additional 415,912 shares during the period. Murchinson Ltd. acquired a new position in shares of Perion Network in the first quarter worth $2,274,000. Goldman Sachs Group Inc. grew its stake in shares of Perion Network by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company’s stock worth $2,798,000 after acquiring an additional 64,442 shares in the last quarter. PDT Partners LLC increased its position in shares of Perion Network by 23.9% during the first quarter. PDT Partners LLC now owns 142,640 shares of the technology company’s stock worth $1,161,000 after acquiring an additional 27,543 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of Perion Network by 10.0% in the first quarter. Systematic Financial Management LP now owns 713,177 shares of the technology company’s stock valued at $5,805,000 after acquiring an additional 65,092 shares in the last quarter. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

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.