Strong Growth and Strategic Confidence Underpin Buy Rating for Perion Network

Needham analyst Laura Martin maintained a Buy rating on Perion Network (PERI – Research Report) today and set a price target of $18.00.

Laura Martin has given her Buy rating due to a combination of factors that indicate strong growth potential for Perion Network. The company has demonstrated impressive performance in specific high-growth areas, such as a 108% year-over-year increase in Connected TV (CTV) revenue and an even more remarkable 134% year-over-year growth in Retail Media revenue. These segments are fast-growing areas in digital advertising, suggesting that Perion Network is successfully capitalizing on market trends. Additionally, the average daily searches have increased by 20% year-over-year, and the number of search publishers has grown by 8%, further underscoring the company’s growing market presence.

Moreover, Perion Network’s strategic financial management actions are promising signs for investors. The company plans to initiate a $75 million share buyback program, which typically reflects confidence in the company’s financial stability and future outlook. This move can also help to support the stock price. Considering these operational and strategic strengths, coupled with financial results that slightly exceeded estimates for both adjusted EBITDA and non-GAAP EPS, Laura Martin’s Buy rating appears to be grounded in both the company’s current performance and its potential for future growth.

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Perion Network (PERI) Company Description:

Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands and publishers through innovative platforms. It is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. It offers the following business solutions: Undertone, which connects brands to consumers using engaging creatives; Code Fuel, which enables developers to optimize search traffic and generate incremental revenue; MakeMeReach, an automated social management platform that help ad performance across Facebook, Twitter, Instagram, and Snapchat; and Smilebox, a desktop and mobile applications. The company was founded by Ofer Adler and Yaron Adler in November 1999 and is headquartered Holon, Israel.