Perion Network (NASDAQ:PERI) Earns “Hold” Rating from Needham & Company LLC

Perion Network (NASDAQ:PERI)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports.

Separately, Stifel Nicolaus cut their price objective on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.13.

Perion Network Stock Performance

Perion Network stock opened at $8.87 on Tuesday. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $31.38. The firm’s fifty day moving average price is $8.66 and its 200-day moving average price is $8.43. The stock has a market cap of $426.91 million, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.46.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PERI. Point72 Asset Management L.P. bought a new position in Perion Network during the 3rd quarter worth approximately $134,000. XTX Topco Ltd purchased a new stake in shares of Perion Network during the third quarter valued at approximately $150,000. Hsbc Holdings PLC bought a new position in shares of Perion Network in the second quarter worth approximately $157,000. State of New Jersey Common Pension Fund D increased its stake in shares of Perion Network by 38.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 46,026 shares of the technology company’s stock worth $384,000 after buying an additional 12,875 shares during the period. Finally, Tidal Investments LLC raised its holdings in Perion Network by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock valued at $397,000 after buying an additional 2,225 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

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.