Why Is Perion Network Stock Slumping Today?
Portfolio Pulse from Nabaparna Bhattacharya
Perion Network Ltd (NASDAQ:PERI) shares dropped in premarket trading as its FY24 forecast missed expectations, despite reporting a 12% increase in Q4 revenues and beating EPS estimates. The company saw significant growth in Retail Media and CTV revenues but experienced a decline in video revenue.
February 07, 2024 | 1:45 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Perion Network's FY24 forecast missed expectations, causing a premarket stock drop, despite strong Q4 performance in revenues and EPS.
The negative short-term impact on PERI's stock price is primarily due to the company's FY24 revenue forecast not meeting analyst expectations, overshadowing its strong Q4 performance. Investors often react to future earnings potential, and a forecast falling short can lead to decreased investor confidence and a drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100