Why Perion Network Stock Was Soaring Today
Shares of Perion Network (NASDAQ: PERI) were surging today after the ad tech company hiked its full-year guidance just three weeks after it reported its fourth-quarter earnings report. The stock was up 26.7% as of 11:31 a.m. EST on the news.
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After a strong start to the year, Perion now sees full-year revenue of $370 million to $380 million (for 14% growth at the midpoint), up from a prior range of $350 million to $370 million. It also raised adjusted EBITDA guidance to a range of $37 million to $38 million, from a range of $35 million to $37 million, ahead of an analyst presentation this morning.
Source Fool.com
