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

Needham & Company LLC restated their hold rating on shares of Perion Network (NASDAQ:PERI) in a research report released on Tuesday,Benzinga reports.

Separately, Stifel Nicolaus decreased their price target on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Perion Network presently has a consensus rating of “Hold” and a consensus target price of $12.13.

Perion Network Trading Up 0.2 %

Shares of PERI opened at $8.98 on Tuesday. The firm’s fifty day simple moving average is $8.67 and its two-hundred day simple moving average is $8.44. Perion Network has a 12 month low of $7.47 and a 12 month high of $31.38. The stock has a market capitalization of $432.21 million, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 0.79 and a beta of 1.46.

Institutional Investors Weigh In On Perion Network

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in shares of Perion Network during the 3rd quarter valued at $134,000. XTX Topco Ltd bought a new position in Perion Network in the 3rd quarter worth about $150,000. Hsbc Holdings PLC bought a new position in Perion Network in the 2nd quarter worth about $157,000. State of New Jersey Common Pension Fund D boosted its position in shares of Perion Network by 38.8% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 46,026 shares of the technology company’s stock valued at $384,000 after acquiring an additional 12,875 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of 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 acquiring an additional 2,225 shares during the last quarter. 68.12% of the stock is 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.