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

April 1, 2021 6:05 AM EDT
Get Alerts PERI Hot Sheet
Price: $15.84 +1.08%

Rating Summary:
    6 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 17
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Needham & Company analyst Laura martin initiates coverage on Perion Network Ltd. (NASDAQ: PERI) with a Buy rating and a price target of $21.00.

The analyst comments "

We estimate that half of PERI's 2021 revenue will come from its Bing contract, which was recently renewed at higher pay-outs to PERI, and the other half from digital advertising, which should benefit from a cyclical ad bounce in 2021 (based on the Fed's 6.5% US GDP growth estimate). In our view, what's best about PERI includes: 1) COVID-19 accelerated trends that benefit PERI and grow its TAM; 2) cyclical ad growth upside in 2021; 3) Bing partnership since 2013; 4) PERI generates revs from both the demand and supply sides of the open internet; 5) CTV industry growth and PERI's interactive CTV ad unit innovations; 6) visible revenue streams; 7) balance sheet strength; and 8) guidance target of $500mm of revenue in 2023."

For an analyst ratings summary and ratings history on Perion Network Ltd. click here. For more ratings news on Perion Network Ltd. click here.

Shares of Perion Network Ltd. closed at $17.90 yesterday.

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