Why Perion Network Stock Crumbled This Week
Typically, when a company misses on either trailing results or forward guidance in an earnings report, it's punished by the market. It's also frequently dinged by analysts.
Sure enough, over the past few days, both groups rapped the knuckles of adtech company Perion Network (NASDAQ: PERI) following the release of its latest set of quarterly earnings. According to data compiled by S&P Global Market Intelligence, the stock tumbled nearly 13% in price this week.
Hump Day was the day Perion failed to surmount, as that's when it unveiled its fourth-quarter and full-year 2024 fundamentals. Although total sales in the former period were down by almost 45% year over year, they landed only slightly below analyst projections at $129.6 million.
Source Fool.com
