Why Perion Network Stock Was Soaring Today

Jeremy Bowman, The Motley Fool
·2-min read
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. 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. Like much of the ad tech industry, Perion is benefiting from an acceleration in the transition to digital advertising, which surged in the second half of the year as screen time spiked and brands looked to attract new customers during an uncertain time.