Benchmark Co. Reiterates a Hold Rating on Perion NetworkBy Jason Carr
“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.”
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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.
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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.