Why Perion Network Stock Soared on Monday
Shares of advertising-technology company Perion Network (NASDAQ: PERI) soared on Monday after management raised its guidance for the fourth quarter. At the close of the trading day, Perion stock was up 16.7%.
Previously, Perion management had guided for Q4 revenue in the range of $81 million to $91 million. Now, it expects to report revenue of $100 million to $105 million, which would amount to 31% year-over-year growth at the midpoint. Further, it had forecast earnings before interest, taxes, depreciation, and amortization (EBITDA) of $8 million to $10 million. Now, it's projecting EBITDA in the $13 million to $14 million range.
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Source Fool.com
