Raymond James Boosts Perion Network (NASDAQ:PERI) Price Target to $28.00

Perion Network (NASDAQ:PERI – Get Rating) had its target price boosted by research analysts at Raymond James from $25.00 to $28.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Raymond James’ price objective points to a potential upside of 35.53% from the stock’s previous close.

PERI has been the topic of several other reports. StockNews.com lowered shares of Perion Network from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 11th. Needham & Company LLC initiated coverage on shares of Perion Network in a research report on Friday, July 1st. They set a “buy” rating and a $32.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $33.25.

Perion Network Price Performance

NASDAQ:PERI opened at $20.66 on Thursday. The firm’s fifty day moving average price is $18.96 and its 200 day moving average price is $20.60. Perion Network has a 1-year low of $16.41 and a 1-year high of $33.09. The firm has a market cap of $917.72 million, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.53 and a beta of 1.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PERI. Qube Research & Technologies Ltd raised its stake in Perion Network by 214.9% in the 4th quarter. Qube Research & Technologies Ltd now owns 32,686 shares of the technology company’s stock valued at $786,000 after purchasing an additional 22,307 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Perion Network in the 4th quarter valued at about $148,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Perion Network in the 4th quarter valued at about $24,772,000. Sheaff Brock Investment Advisors LLC purchased a new stake in Perion Network in the 4th quarter valued at about $204,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Perion Network by 7.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 13,753 shares of the technology company’s stock valued at $331,000 after buying an additional 965 shares during the period. Institutional investors and hedge funds own 46.52% of the company’s stock.

About Perion Network

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Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides 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.