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Perion Network Ltd. (PERI)

- NASDAQ
  • 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
    | 3 Comments
  • 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
    | 3 Comments
  • 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
    | 1 Comment
  • 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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  • 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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  • Sep. 17, 2014, 2:29 PM
    • Reuters reports it and then takes it away, as it cites "a source with knowledge of the matter" as saying an earlier report that IAC/InteractiveCorp (IACI +0.1%) had offered to buy Perion Network (PERI +4.1%) was untrue.
    • The earlier report said IAC has offered at least $500M for PERI, whose technology helps developers distribute apps and make money off them through advertising.
    | 1 Comment
  • Sep. 17, 2014, 9:15 AM
    | 1 Comment
  • Aug. 6, 2014, 4:04 PM
    • Perion (PERI -9.4%) now expects 2014 revenue of $380M-$400M and net income of $80M-$90M, down sharply from a May forecast of $460M-$470M and $103M-$108M.
    • The company largely blames Google Chrome policy changes (previous) that require users to manually agree to the installation of plug-ins (such as Perion's search toolbars). A "technical matter" that has hurt search traffic is also taking a toll, but Perion expects the issue to be fixed soon.
    • CEO Josef Mandelbaum: "We're not going to spend as aggressively because we would be losing money, and we are preserving the profitability of the business." Perion is lowering its payouts to partners until monetization rebounds.
    • Costs/expenses fell to 20% of revenue in Q2 from 23% a year ago. Customer acquisition costs were 50% of revenue.
    • Q2 results, PR
    | 1 Comment
  • Aug. 6, 2014, 9:14 AM
    | 2 Comments
  • Jun. 4, 2014, 5:33 PM
    • Top gainers, as of 5:15 p.m.: HALO +11.4%. VRNT +7.1%. RRD +4.3%. PERI +4.3%. FUEL +3.8%.
    • Top losers, as of 5:15 p.m.: NVAX -9.7%. PVH -6.5%. TSL -3.2%. GTAT -2.7%. BV -2.3%.
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  • May 8, 2014, 4:00 PM
    • Perion (PERI -2.3%) has filed to sell up to 45M shares on behalf of existing holders through future offerings.
    • The filing comes four months after Perion completed the acquisition of Conduit's ClientConnect toolbar unit through an all-stock reverse merger.
    | 2 Comments
  • Mar. 3, 2014, 11:35 AM
    • Perion (PERI +10.8%) expects 2014 revenue of $460M-$470M, EBITDA of $125M-$130M, and net income of $103M-$108M. Between them, Perion and reverse merger partner ClientConnect (i.e. Conduit's toolbar unit) had 2013 revenue of $430.1M, EBITDA of $122.3M, and net income of $106.8M.
    • Ahead of the Jan. 2 closing of the ClientConnect deal, Perion's Q4 sales soundly beat estimates on the back of a 61% Y/Y increase in search-related revenue to $10M (lifted by deals with Yahoo, Bing, and Ask.com). Sales of all other products/services rose 12% to $6.8M.
    • Customer acquisition costs rose 50% Y/Y in Q4 to $14.6M , slightly outpacing rev. growth of 47%. Google accounted for 38% of 2013 revenue.
    • Q4 results, PR
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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.