Roth MKM remains Neutral rated on Perion Network despite ‘Perion One’ strategy

Roth MKM analyst Jeff Martin remains Neutral rated on Perion Network (PERI) with a $9 price target although the announcement of its strategy to unify its offering on a single platform “has piqued its interest.” While 2025 will be a transition year, the firm did not get the sense 2025 guidance will be materially different than current consensus. Roth concludes that the strategy will provide both internal efficiencies and provide benefit to Perion Network’s client base in 2026. The firm believes it is “too early to tell and the timeline for platform completion pushes into 2026.” It is prudent, in its view, to wait for confirmation of 2025 guidance that is consistent with current consensus estimates. Roth also believes M&A plays a role in migration to a single technology platform and thinks it will come down to perception of Perion’s ability to enhance client value and drive improving KPIs.