Fair value published on 20 Oct 2026, 15:04 CEST; previously $11.92 since 16 Oct 2026, 00:00 CEST.
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 15:04 CEST.
Price used: $8.66 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
30.9% below
+44.6% to fair value
ACCE score
47
out of 100
Analysts
50% buy
6 covering
1-year return
-8.6%
Dividend yield
0.00%
Perion Network Ltd. Ordinary Shares in four questions
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Overview
ACCE thesis
Perion Network runs an advertising technology platform, with its Perion One suite and Waze-linked and search monetisation businesses that sell ad inventory through programmatic channels. The company has no index membership and a $376M market cap, so it sits outside the screens most investors use. Revenue fell 4.6% and operating margin is -7.6%, which makes the operating case the main issue, not the balance sheet. The forward P/E of 12.9 against a trailing P/E of zero says earnings are expected to turn positive, though the forecast rests on a recovery that has not yet shown up in reported results. Worth a deeper look only if you can underwrite that earnings inflection, since the 34.0% gross margin is the number to track to confirm it.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Revenue shrinking year over year
Revenue fell 4.6% YoY, a sharp break from the 6.0% five-year revenue CAGR. Operating margin is -7.6% and net margin -2.9%, so the business is not yet covering costs at the operating line.
moderate
ACCE score deteriorated sharply
The composite score dropped 11 points over 90 days, from 58 to 47. Quality (39) and momentum (31) are the weakest components, which points to the deterioration being more than a valuation effect.
moderate
Insider selling with no buying
Insiders disclosed $0.23M of sales and no purchases across the last 10 disclosures. Insider ownership is only 0.7%, so the signal is small in size but one-directional.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Free cash flow over the last twelve months reached $38M, and the stock yields 10.5% on that cash flow.
The company cut its diluted share count by 15.0% last fiscal year, so each remaining share claims a bigger slice of the business.
The share price of $8.66 sits 30.9% below the model fair value of $12.52, and at 6.2x forward earnings against a sector median of 16.7x.
Why it could disappoint
Revenue fell 4.6% year over year, even though the five-year average growth rate is 6.0% a year.
The company still loses money, with a net margin of -2.9% and a return on equity of -2.0%.
The current price already implies cash flow growth of -1.3% a year for five years, so the market expects little recovery.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 11, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where PERI's valuation models land
Price
$8.66
Model fair value
$12.52
Model range
$3.93 to $20.83
Fair value $12.52
Price $8.66
The price sits inside the model range.
Model
Fair value
Upside
Discounted cash flow
Dividend discount
EV/EBITDA comparison
P/E comparison
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
+A plain reason under every score
+Conviction breakdown and growth / value / quality / momentum scores