Perion Network price target lowered to $10.50 from $11 at Lake Street

Lake Street lowered the firm’s price target on Perion Network (PERI) to $10.50 from $11 and keeps a Buy rating on the shares. The midpoint of Perion’s 2025 revenue guide was “a disappointing $60M below consensus,” the company noted it is purposely stepping away from less profitable open web advertising to focus on better margin digital-out-of-home and CTV channels, the analyst tells investors. While “disappointed” by the company’s initial 2025 view, the firm remains “as convinced as ever of the merits” of the stock opportunity, the analyst added.