Needham & Company Starts Perion Network Ltd. (PERI) at Buy

April 8, 2013 7:53 AM EDT
Get Alerts PERI Hot Sheet
Price: $1.54 -4.94%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Needham & Company initiated coverage on Perion Network Ltd. (NASDAQ: PERI) with a Buy rating and a price target of $14.00.

Analyst Kerry Rice said, "We expect the uncertainty surrounding Perion's renewal of its agreement with Google (Nasdaq: GOOG), as well as the impact of the recent AdSense policy changes on its model, to clear. Ultimately, we believe the company's adjustments to these policy changes, as well as new search and distribution partners could increase Life-Time-Value (LTV) and decrease customer acquisition costs over time. We also believe Perion has a strong pipeline of product launches and is strongly positioned to expand aggressively into mobile, further its product portfolio on the desktop, and explore new monetization opportunities in its vast and rich data. We also believe valuation is compelling."

For an analyst ratings summary and ratings history on Perion Network Ltd. (NASDAQ: PERI) click here. For more ratings news on Perion Network Ltd. click here.

Shares of Perion Network Ltd. closed at $9.97 yesterday.

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