Shares of Perion Network (PERI) have gained 13.5% at the time of writing after the company released preliminary results for the first quarter of 2022. It is scheduled to report earnings on April 28, 2022.
Perion is a global technology company that engages in the provision of advertising solutions to brands and publishers through innovative platforms. So far this year, PERI stock has fallen 4.6%.
The company expects to report revenue of about $125 million, representing 39% year-over-year growth. The projected figure comes above the consensus estimate of $119.2 million. It is said to have benefited from the opportunities in SORT innovation along with its proprietary cookieless technology.
Further, adjusted EBITDA is anticipated to be about $22 million for the first quarter, up 150% from the same quarter last year. Perion foresees an EBITDA margin of 42% compared to 25% in the first quarter of 2021.
Perion’s CEO, Doron Gerstel, said, “Perion is building an increasingly predictable and sustainable financial model, with our strong revenue ramp continuing into 2022 performance. Our results are driven by our strategic diversity of revenue streams, giving us the ability to deliver growth where the opportunities are.”
Wall Street’s Take
The Street has a bullish outlook on the stock with a Strong Buy consensus rating based on four unanimous Buys. The average Perion stock forecast of $30 implies an upside potential of about 15.3% from current levels.
Blogger Opinion
TipRanks data shows that financial blogger opinions are 100% Bullish on PERI, compared to a sector average of 68%.
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