By market close, shares had added 10.1% to $13.14.
The app software developer reported net income of 49 cents a share and total sales of $31.34 million in the three months to December. Analysts surveyed by Thomson Reuters had forecast net income of 34 cents a share on sales of $21.28 million.
For fiscal 2014, the Israel-based business anticipates revenue between $460 million and $470 million, compared to analyst consensus of $442.95 million. Net income is expected in the range of $103 million and $108 million, higher than expectations of $99.7 million.Must Read: Warren Buffett's Top 10 Dividend Stock STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates PERION NETWORK LTD as a Hold with a ratings score of C. The team has this to say about their recommendation: "We rate PERION NETWORK LTD (PERI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."
- You can view the full analysis from the report here: PERI Ratings Report
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