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Perion Network Ltd. (PERI)

- NASDAQ
  • Tue, Apr. 7, 5:06 PM
    • Michael Waxman-Lenz, formerly the CEO of education marketing/tech firm INTEAD, has been hired by Perion (NASDAQ:PERI) to fill the new role of chief strategy officer. He'll be in charge of "developing and executing global strategy, corporate development and marketing."
    • Perion, hungry to cut its search toolbar dependence, has already been busy shaking up its strategy. The company bought mobile ad management platform Grow Mobile last June, and social media ad platform MakeMeReach in February.
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  • Wed, Apr. 1, 3:14 PM
    • With the Nasdaq down 0.8%, only a handful of tech companies are posting big gains. Notable gainers include search toolbar/mobile ad provider Perion (PERI +4.2%) , low-end Android OEM InfoSonics (IFON +7.1%), and Chinese mobile app developer Sungy Mobile (GOMO +8.2%).
    • Notable decliners include local reviews leader Yelp (YELP -4.6%), cloud IT service management software vendor ServiceNow (NOW -4.5%), cloud talent management software vendor Cornerstone OnDemand (CSOD -4%), enterprise cloud storage/file-sharing platform Box (BOX -5.5%), software analytics tool provider New Relic (NEWR -5.9%), online family care marketplace marketplace Care.com (CRCM -5%), and e-commerce software provider Demandware (DWRE -4.9%).
    • Perion announced this morning it has added Mike Vorhaus, president of consulting firm Magid Advisors, to its board. ServiceNow has announced its Q1 report will arrive on April 16. Yelp, which has been volatile in recent weeks, is now just slightly over $3 above a 52-week low of $42.10. Care.com is less than $1 away from a post-IPO low of $6.50.
    • Previously covered: Solar stocks, cybersecurity stocks, Axcelis, GoDaddy, ON Semi, Voltari
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  • Tue, Mar. 24, 3:18 PM
    • Today's notable tech gainers include chip packaging/testing firm ChipMOS (IMOS +3.7%), and headphone maker Skullcandy (SKUL +3.9%), mobile banking tech provider Mitek (MITK +6.5%), search toolbar/mobile ad platform provider Perion (PERI +8.8%), Chinese social network/game provider Renren (RENN +4.8%), peripherals giant Logitech (LOGI +4%), security IP licensing firm Finjan (FNJN +13.7%).
    • Notable decliners include e-commerce services firm ChannelAdvisor (ECOM -5.6%), program guide/content protection IP firm Rovi (ROVI -4.3%), telecom equipment vendor Calix (CALX -3.5%), and Fibre Channel/Ehternet switch vendor Brocade (BRCD -3.4%).
    • Likely helping Finjan: An H.C. Wainwright note stating the company has committed $5M to a Jerusalem Venture Partners (JVP) cybersecurity fund; Alibaba announced yesterday it's investing in JVP. Logitech announced a $100 wireless mouse today. Skullcandy is once more within striking distance of a 52-week high of $11.83.
    • Previously covered: Twitter, solar stocks, Sonus/AudioCodes/BroadSoft, Neonode, Arista, Taser, Ciena, Zagg, Gogo, Digital Ally
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  • Wed, Feb. 25, 12:02 PM
    • Though it beat Q4 estimates, Perion (PERI -2.9%) is guiding for Q1 revenue of $50M-$53M, below a $69.7M consensus. Net income is expected to be in a range of $9M-$11M.
    • The company notes it plans to report "more of its revenue on a net revenue basis to reflect a shift in its business model both in search and mobile," so as to comply with GAAP rules, and that this shift will have a $7M-$10M impact on reported Q1 sales. Backing out that change brings sales guidance to $57M-$63M (still below consensus).
    • Perion adds its search monetization (toolbar) business "still faces headwinds." The company is more positive about GrowMobile's mobile ad platform, and declares it's "dedicating resources to organically enhance our monetization portfolio to include other forms of advertising and to expand into mobile."
    • Customer acquisition costs were 37% of revenue, up from Q3's 34% but down from 63% a year ago. On the other hand, costs/expenses rose to 32% of revenue from 25% a year ago. Search revenue fell 4% Y/Y to $68.1M, and ad/other revenue 23% to $9.9M.
    • Shares started the day sharply lower, but have since pared their losses. A lot of bad news has been priced in already.
    • Q4 results, PR
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  • Wed, Feb. 25, 9:24 AM
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  • Wed, Feb. 25, 7:14 AM
    • Perion Network (NASDAQ:PERI): Q4 EPS of $0.27 beats by $0.13.
    • Revenue of $78.68M (-8.1% Y/Y) beats by $5.4M.
    • Press Release
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  • Tue, Feb. 24, 5:30 PM
  • Mon, Feb. 23, 3:04 PM
    • Today's notable tech gainers include video processor supplier Ambarella (AMBA +5.1%), online retailer Overstock (OSTK +6.5%), Web toolbar/mobile ad services firm Perion (PERI +4.3%), data center switch vendor Arista (ANET +3.2%), and cloud contact center software provider InContact (SAAS +3.9%).
    • Notable decliners include supercomputer maker Cray (CRAY -7.2%), 3D printer maker ExOne (XONE -4.5%), Chinese mobile game publisher Sky-mobi (MOBI -6.6%), demand-side online ad platform Rocket Fuel (FUEL -7.9%), auto site TrueCar (TRUE -4.3%), online flash sales provider Zulily (ZU -4.2%), online health insurance agency eHealth (EHTH -9.7%), and data center services provider Datalink (DTLK -4.9%). The Nasdaq is close to breakeven.
    • Arista is adding to Friday's post-earnings gains, which were aided by upbeat analyst commentary. Rocket Fuel and TrueCar are adding to Friday's post-earnings losses (I, II) - TrueCar released February sales estimate data today for a number of automakers.
    • Previously covered: Cybersecurity stocks, Digital Ally, TowerJazz, 500.com, Russian tech/telecom stocks, TubeMogul, RGS Energy, Computer Sciences
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  • Wed, Feb. 11, 4:01 PM
    • MakeMeReach, based out of Paris, offers a platform for creating Facebook/Twitter ads and managing related campaigns. Perion (PERI -2.8%) is buying the company for an undisclosed sum.
    • The acquisition follows Perion's 2014 purchase of mobile ad management platform Grow Mobile. Perion notes both MakeMeReach and Grow Mobile's solutions are available on either a self-serve or fully-managed basis, and that MakeMeReach gives Grow Mobile a new European office.
    • The deal comes shortly after online ad campaign software provider Marin Software (MRIN +0.1%) agreed to buy MakeMeReach rival SocialMoov for $18.75M ($8M in cash, $10.75M in stock).
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  • Mon, Jan. 12, 4:25 PM
    • Shai Gottesdiener, Perion's (NASDAQ:PERI) CTO since July 2013, will now serve as the GM of the company's B2B Mobile unit. His new position makes him responsible for recently-acquired app ad management platform Grow Mobile, as well as for "launching new B2B mobile products" such as Perion's Touchbeam engagement platform (beta release in Q2).
    • Perion's new CTO is Miki Kolko, Perion's VP of Data for the last two years and prior to that the VP of Data at cloud customer support software vendor LivePerson.
    • Shares made new 52-week lows today. CFO Yacov Kaufman presents at a Needham conference at 3:30PM ET tomorrow (webcast).
    | 2 Comments
  • Dec. 31, 2014, 8:03 AM
    • Perion (NASDAQ:PERI) has slumped to new 52-week lows in premarket trading, after Chardan Capital downgraded shares to Neutral after the bell yesterday.
    • Shares -64% YTD. They now sport an 2015E EV/sales ratio of just 0.8.
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  • Dec. 30, 2014, 4:42 PM
    • Believing Google policy changes aren't yet fully reflected in shares, Chardan Capital has downgraded Perion (NASDAQ:PERI) to Neutral after the bell, and slashed its target by $8 to $5. The target cut appears a little belated, given Perion closed today at $4.51.
    • A new Google Chrome requirement that users manually agree to the installation of search toolbars and other plugins has already taken a toll on Perion's top line. The company recently tried to lower its toolbar dependence by acquiring mobile ad management platform Grow Mobile.
    • Shares haven't yet moved in AH trading.
    | 1 Comment
  • Nov. 6, 2014, 12:47 PM
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  • Nov. 6, 2014, 10:42 AM
    • With a Q3 beat on the books, Perion (NASDAQ:PERI) is hiking its full-year net income guidance to $90M-$95M from $80M-$90M. Revenue guidance of $380M-$400M is reiterated; consensus is at $392.2M.
    • Lower marketing spend provided a major boost to Q3 EPS: Customer acquisition costs (CAC) fell to 34% of revenue from 50% in Q2. It was 61% of reverse merger partner ClientConnect's Q3 2013 revenue.
    • Excluding CAC, costs/expenses were 28% of revenue, up from 20% of revenue in Q2 and 27% of ClientConnect's Q3 2013 revenue.
    • With toolbar-related revenue under pressure, search revenue fell 6% Y/Y to $68.9M, and ad/other revenue fell 8% to $12M. A self-serve mobile ad-buying platform (GrowMobile) will be launched next week.
    • Shares had gone into earnings near a 52-week low of $5.02. They fell hard three months ago after Perion cut its full-year revenue and net income guidance.
    • Q3 results, PR
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  • Nov. 6, 2014, 8:38 AM
    • Perion Network (NASDAQ:PERI): Q3 EPS of $0.38 beats by $0.11.
    • Revenue of $87.37M (+7.1% Y/Y) beats by $3.94M.
    • Press Release
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  • Sep. 23, 2014, 4:30 PM
    • Perion (PERI -0.5%) has completed an Israeli tender for convertible debt yielding 5%. The bonds have an aggregate value of NIS143.5M, and will yield net proceeds of NIS136.5M ($37.3M). They have a conversion price of $9.22 (a 57% premium to current levels), and are repayable via five installments, the last of which is due March 2020.
    • Perion had $35.6M in cash as of June 30, and $5.4M in debt. Shares made new 52-week lows earlier today.
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Company Description
Perion Network Ltd is a digital media company that provides products and services to consumers, focusing on second wave adopters. The Company's products include; IncrediMail, Smilebox and Sweet IM.