- Company raises H2/2020 expectations materially for the third time in as many months.
- Shares nevertheless took a hit in Tuesday's after hours session after the company announced a surprise $50 million follow-on offering.
- Funds might be used for additional M&A activity and/or dealing with up to $47 million in potential earnout obligations from the recent acquisition of ContentIQ.
- Even after the recent rally, shares still trade at a substantial discount to closest peers The Trade Desk and Magnite thus providing ample room for further multiple expansion.
- Buy with both hands as the company continues to execute above expectations. Watch for strong guidance on the company's upcoming fourth quarter and full year 2020 earnings report on February 9.
For further details see:
Perion Network Raises H2/2020 Expectations Again And Announces $50 Million Follow-On Offering - Buy With Both Hands