PERI Stock Price Increased Over 27% Intraday: Why It Happened

By Amit Chowdhry ● Mar 2, 2021
  • The stock price of Perion Network Ltd (NASDAQ: PERI) has increased by over 27% intraday. This is why it happened.

The stock price of Perion Network Ltd (NASDAQ: PERI)  – a global technology company that delivers its Synchronized Digital Branding solution across the three main pillars of digital advertising – ad search, social media, and display / video and CTV advertising – has increased by over 27% intraday as it went from a previous close of $21.59 to $27.44. Investors appear to be responding to the company announcing an updated 2021 revenue and Adjusted EBITDA guidance due to a strong start of the year.

Prior Guidance FY 2021

Revenue: $350 million to $370 milion

Adjusted EBITDA: $35 million to $37 million

Revised Guidance FY 2021

Revenue: $370 million to $380 milion

Adjusted EBITDA: $37 million to $38 million

KEY QUOTE:

“Perion’s momentum is being driven by our ability to rapidly benefit from shifts in spending across the 3 main pillars of digital advertising – display, video and CTV, social advertising, as well as the growing spend of search advertising. Based on the strong business momentum we expect revenue for the first quarter of 2021 to range between $86-$87 million reflecting a 31% YoY growth. Adjusted EBITDA in the first quarter of 2021 is expected to be at least $7.2 million compared to $6.2 million in the first quarter of 2020.”

“There’s no better way to showcase the value of Perion’s digital advertising solutions than to invite some of our most valuable customers to share their experiences with the investor community. I hope all those interested will join me in listening to what Mr. Jorge Irizar Global COO of Havas Media, Newsweek’s CEO Dev Pragad and other industry leaders have to say about our social advertising platform, content monetization engine, and other key Perion growth areas.”

— Doron Gerstel, Perion’s CEO

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.