Perion Network Ltd. (NASDAQ:PERI – Get Rating)’s share price reached a new 52-week high on Monday . The company traded as high as $35.23 and last traded at $35.23, with a volume of 5770 shares trading hands. The stock previously closed at $34.78.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on PERI. StockNews.com upgraded shares of Perion Network from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 5th. Needham & Company LLC reissued a “buy” rating and issued a $37.00 target price on shares of Perion Network in a research report on Wednesday, February 8th. Raymond James upped their price target on Perion Network from $32.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. Finally, Oppenheimer lifted their price objective on Perion Network from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th.
Perion Network Trading Up 1.6 %
The stock’s fifty day moving average price is $31.41 and its 200 day moving average price is $26.07. The stock has a market cap of $1.61 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 0.56 and a beta of 1.33.
Institutional Investors Weigh In On Perion Network
A number of large investors have recently added to or reduced their stakes in PERI. BNP Paribas Arbitrage SNC bought a new position in shares of Perion Network during the 3rd quarter valued at about $58,000. State of Wyoming bought a new position in Perion Network during the fourth quarter valued at approximately $61,000. Deutsche Bank AG purchased a new position in shares of Perion Network during the fourth quarter worth approximately $71,000. Amundi purchased a new stake in shares of Perion Network in the 4th quarter valued at $104,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Perion Network by 25.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,536 shares of the technology company’s stock valued at $140,000 after purchasing an additional 1,136 shares in the last quarter. Hedge funds and other institutional investors own 50.94% of the company’s stock.
About Perion Network
Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands, agencies, and publishers. It operates through the following geographical segments: North America (mainly US), Europe, and Other. The firm’s solutions include Publisher Platform, Search Monetization, SORT-Cookieless Targeting, High Impact Creative, and Actionable Monitoring.
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