May Stock Pick: Perion Network – Google Anti-Trust Beneficiary Plus AI Tailwinds

We published a piece in March on the potential outcomes from Google’s anti-trust trial slated to begin in the fall of this year. If Google is found to have engaged in anti-competitive behavior, we identified Perion Networks (PERI, $1.5b mkt cap) as a potential beneficiary. Currently, Perion holds a unique position in the advertising technology sector that has enabled it to outperform its peers. Perion recently reported Q123 earnings. At a time when its peers are dealing with advertising budgets that are in flux, Perion revised upward its 2023 sales target. The earnings report provided a good opportunity to get an update on the business and the main business drivers.

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