Perion Network’s (PERI) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Perion Network (NASDAQ:PERI) in a research note published on Tuesday morning,Benzinga reports.

Separately, Stifel Nicolaus decreased their price objective on 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Perion Network currently has an average rating of “Hold” and an average price target of $12.13.

Perion Network Stock Performance

NASDAQ:PERI opened at $8.98 on Tuesday. The company has a market cap of $432.21 million, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.79 and a beta of 1.46. The stock’s fifty day moving average price is $8.67 and its two-hundred day moving average price is $8.44. Perion Network has a 52-week low of $7.47 and a 52-week high of $31.38.

Institutional Investors Weigh In On Perion Network

Institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC raised its position in Perion Network by 4.6% in the third quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock valued at $397,000 after purchasing an additional 2,225 shares during the last quarter. Sei Investments Co. increased its stake in shares of Perion Network by 9.4% in the second quarter. Sei Investments Co. now owns 59,343 shares of the technology company’s stock valued at $496,000 after buying an additional 5,078 shares during the period. Equitable Trust Co. raised its holdings in Perion Network by 19.1% in the 3rd quarter. Equitable Trust Co. now owns 65,770 shares of the technology company’s stock valued at $518,000 after buying an additional 10,535 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in 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 worth $384,000 after buying an additional 12,875 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Perion Network during the 3rd quarter worth approximately $134,000. 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.