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

Perion Network Ltd. (NASDAQ:PERI) has received a consensus rating of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $12.13.

Several analysts recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, November 7th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Perion Network by 17.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock worth $128,000 after purchasing an additional 2,299 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Perion Network by 9.7% during the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock worth $138,000 after purchasing an additional 1,468 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Perion Network in the third quarter valued at approximately $134,000. Hsbc Holdings PLC bought a new position in Perion Network in the 2nd quarter valued at approximately $157,000. Finally, XTX Topco Ltd acquired a new stake in Perion Network during the 3rd quarter worth approximately $150,000. 68.12% of the stock is currently owned by institutional investors.

Perion Network Stock Down 1.1 %

PERI stock opened at $8.60 on Wednesday. The company’s 50-day moving average price is $8.66 and its two-hundred day moving average price is $8.41. The firm has a market cap of $413.89 million, a P/E ratio of 9.25, a P/E/G ratio of 0.45 and a beta of 1.46. Perion Network has a 12 month low of $7.47 and a 12 month high of $31.38.

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.