Fintel reports that on September 26, 2023, Needham reiterated coverage of Perion Network (NASDAQ:PERI) with a Buy recommendation.
Analyst Price Forecast Suggests 41.29% Upside
As of August 31, 2023, the average one-year price target for Perion Network is 42.50. The forecasts range from a low of 38.38 to a high of $47.25. The average price target represents an increase of 41.29% from its latest reported closing price of 30.08.
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The projected annual revenue for Perion Network is 743MM, an increase of 7.42%. The projected annual non-GAAP EPS is 1.75.
What is the Fund Sentiment?
There are 304 funds or institutions reporting positions in Perion Network. This is an increase of 3 owner(s) or 1.00% in the last quarter. Average portfolio weight of all funds dedicated to PERI is 0.27%, a decrease of 27.87%. Total shares owned by institutions increased in the last three months by 5.53% to 31,923K shares. 
The put/call ratio of PERI is 0.54, indicating a bullish outlook.
What are Other Shareholders Doing?
Clal Insurance Enterprises Holdings holds 2,321K shares representing 4.94% ownership of the company. In it's prior filing, the firm reported owning 1,105K shares, representing an increase of 52.41%. The firm increased its portfolio allocation in PERI by 30.24% over the last quarter.
Harel Insurance Investments & Financial Services holds 2,028K shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 1,607K shares, representing an increase of 20.74%. The firm increased its portfolio allocation in PERI by 17.54% over the last quarter.
Migdal Insurance & Financial Holdings holds 1,959K shares representing 4.16% ownership of the company. In it's prior filing, the firm reported owning 1,919K shares, representing an increase of 2.04%. The firm decreased its portfolio allocation in PERI by 17.30% over the last quarter.
Acadian Asset Management holds 1,937K shares representing 4.12% ownership of the company. In it's prior filing, the firm reported owning 1,804K shares, representing an increase of 6.88%. The firm decreased its portfolio allocation in PERI by 22.00% over the last quarter.
Private Capital Management holds 1,468K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 1,512K shares, representing a decrease of 2.98%. The firm decreased its portfolio allocation in PERI by 23.09% over the last quarter.
Perion Network Background Information
(This description is provided by the company.)
Perion is a global technology company that delivers strategic business solutions that enable brands and advertisers to efficiently 'Capture and Convince' users across multiple platforms and channels, including interactive connected television - or iCTV. Perion achieves this through its Synchronized Digital Branding capabilities, which are focused on high impact creative; content monetization; its branded search network, in partnership with Microsoft Bing; and social media management that orchestrates and optimizes paid advertising. This diversification positions Perion for growth as budgets shift across categories.
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This story originally appeared on Fintel.
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