Perion Network Positioned for Growth in Search Advertising with Enhanced Bing Offering, Says Analyst
Portfolio Pulse from Anusuya Lahiri
Needham analyst Laura Martin reiterated a Buy rating and a $42 price target for Perion Network Ltd (PERI). She highlighted the company's growth potential in Search Advertising, which accounted for 45% of PERI's total gross revenues in 1Q23. PERI's partnership with Microsoft Corp (MSFT) Bing has been beneficial, with PERI having the right to put Bing on browsers, devices, and websites globally for a share of the ad dollars on Bing's results pages. PERI's next CEO, Tal Jacobson, has led the Search segment since 2018 and has overseen its rapid revenue growth.
July 10, 2023 | 7:06 pm
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NEUTRAL IMPACT
Microsoft Corp (MSFT) has been highlighted for its beneficial partnership with Perion Network Ltd (PERI), which has the right to put Bing on browsers, devices, and websites globally for a share of the ad dollars on Bing's results pages.
While the news highlights Microsoft's beneficial partnership with PERI, it does not provide any specific information that could significantly impact MSFT's stock price in the short term. However, the partnership could potentially contribute to Bing's growth and revenue.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Perion Network Ltd (PERI) has been reiterated with a Buy rating and a $42 price target by Needham analyst Laura Martin. The company's growth potential in Search Advertising and its partnership with Microsoft Bing are highlighted.
The positive rating from the Needham analyst, along with the highlighted growth potential in Search Advertising and the beneficial partnership with Microsoft Bing, are likely to boost investor confidence in PERI, potentially driving its stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100