Benchmark Co. Reiterates a Hold Rating on Perion Network

By Jason Carr

In a report released yesterday, Daniel Kurnos from Benchmark Co. reiterated a Hold rating on Perion Network (NASDAQ: PERI). The company’s shares closed yesterday at $1.68.

Kurnos said:

“We continue to believe Search has largely stabilized, but suspect that ongoing pressure from the search engines and further challenges to publishers could result in a longer-term, slow-bleed profile. We do, however, ascribe some value to Perion’s leading position with Bing (MSFT-Not Rated) given what appears to be an ongoing exodus away from Google (GOOG-Not Rated). We are reducing our Search revenue estimate to $146 million for 2017, down 7% y/y. As an offset, and given the strong performance in the quarter, we are raising our Undertone forecast to $145 million, noting tailwinds from mobile, programmatic and video as potential drivers of upside to our 10% growth forecast.”

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 14.6% and a 62.6% success rate. Kurnos covers the Services sector, focusing on stocks such as Liquidity Services, Sinclair Broadcast, and 1-800 FlowersCom.

Perion Network has an analyst consensus of Hold.

The company has a one year high of $2.56 and a one year low of $0.94. Currently, Perion Network has an average volume of 234K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Perion Network Ltd. engages in the provision of digital media business. It is involved in the development of search-based monetization solution for publishers to track and monitor their business performance. The company was founded by Ofer Adler and Yaron Adler November 1999 and is headquartered Tel Aviv, Israel.