Perion Network Ltd (NASDAQ:PERI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Perion Network Ltd (NASDAQ:PERI) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat Ratings 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 objective among brokers that have issued ratings on the stock in the last year is $12.3750.

A number of equities analysts have issued reports on PERI shares. Lake Street Capital lifted their price target on Perion Network from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, July 1st. Wall Street Zen raised Perion Network from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th.

Institutional Trading of Perion Network

Several institutional investors and hedge funds have recently made changes to their positions in the company. Value Base Ltd. bought a new position in shares of Perion Network during the first quarter valued at about $18,799,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Perion Network by 37.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,511,885 shares of the technology company’s stock valued at $15,346,000 after acquiring an additional 415,912 shares in the last quarter. Murchinson Ltd. bought a new position in shares of Perion Network in the first quarter valued at approximately $2,274,000. Sphera Management Technology Funds Ltd purchased a new stake in shares of Perion Network during the fourth quarter valued at approximately $995,000. Finally, JPMorgan Chase & Co. lifted its holdings in Perion Network by 165.8% during the second quarter. JPMorgan Chase & Co. now owns 162,617 shares of the technology company’s stock worth $1,651,000 after acquiring an additional 101,446 shares during the period. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

Shares of NASDAQ PERI opened at $9.80 on Tuesday. The company has a 50-day moving average price of $9.88 and a 200-day moving average price of $9.60. The stock has a market capitalization of $439.33 million, a P/E ratio of -81.67, a P/E/G ratio of 0.87 and a beta of 1.46. Perion Network has a 1 year low of $6.99 and a 1 year high of $11.79.

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.