Perion Network

PERI · NASDAQ

$8.90+$0.10 (+1.14%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $8.80

PERI analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 5 analysts

Average $13.26 (+49.0% upside)

Low: $12.12
Now: $8.90
High: $14.70

Upgrades and downgrades

The latest rating actions, newest first

PERI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Lake Street	May 21, 2026	Maintains	Buy	$14.00 → $13.00	48%
Canaccord Genuity	May 21, 2026	Maintains	Buy	$14.00	50%
Canaccord Genuity	Mar 20, 2026	Initiates	Buy	$14.00	50%
Lake Street	Feb 19, 2026	Maintains	Buy	$15.00 → $14.00	48%
Lake Street	Nov 13, 2025	Maintains	Buy	$14.00 → $15.00	48%
Roth Capital	Nov 13, 2025	Maintains	Buy	$14.00 → $14.50	62%

The case for and against

Updated Oct 31, 2025

Bull case

Perion Network Ltd. has demonstrated significant growth in various segments, with Retail Media revenue increasing by 33% year-over-year to $19.8 million, contributing 22% of total revenue, a marked rise from 9% in the previous quarter. Additionally, the Digital Out-of-Home (DOOH) revenue surged 80% year-over-year to $17.4 million, now accounting for 19% of total revenue, highlighting its rapid expansion following the acquisition of HiveStack. The company has raised its revenue guidance by $30 million to a range of $430–450 million, while Adjusted EBITDA is also projected to grow by $4 million to a range of $44–46 million, reflecting a strong financial outlook.

Bear case

Perion Network Ltd reported a significant decline in key financial metrics, with total revenue falling by 43% year-over-year to $89.3 million, primarily driven by the loss of high-margin search business and a decrease in traditional video and display advertising. The company's adjusted EBITDA also declined by 93% year-over-year to $1.5 million, indicating a worrying trend of rising operating costs amidst shrinking revenues, which could lead to diminishing returns on invested capital. Additionally, the company's negative free cash flow of $7.4 million reflects underlying liquidity concerns, compounded by potential risks associated with economic weakness, increased competition, and regulatory pressures that may impede future growth.

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