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  "docSlug": "9551be67f14d",
  "documentTitle": "Perion Network Ltd. (PERI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-05-23 00:00:00",
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  "pageNumber": 121,
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  "notes": "Uses callouts to highlight the discrepancy between US and Israeli analyst targets.",
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      "kind": "callout",
      "text": "See next slide for who is the biggest “bull” on the stock",
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      "kind": "callout",
      "text": "The only Israel-based broker has the lowest target!",
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      "text": "Price Target: $38.81",
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      "kind": "paragraph",
      "text": "The chorus of stock promoters have a resounding “Buy” recommendation on PERI’s share price with just one analyst having a “Hold” recommendation. However, we don’t believe any of these analysts have conducted a forensic analysis of PERI’s financial reporting and accounting practices to question its motives or the sustainability of its recent performance. Moreover, we question why most of the stock promoters are US-based while the only Israeli-based broker has the lowest share price.",
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      "kind": "source-note",
      "text": "Note: Upside based on current share price of $31.80\nSource: Bloomberg and Spruce Point analysis",
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      "kind": "table",
      "text": "Stock Promoter / Location, Recommendation, Price Target. Needham / U.S., Buy, $42.00. Oppenheimer / U.S., Outperform, $42.00. Raymond James / U.S., Outperform, $41.00. ROTH / U.S., Buy, $40.00. Lake Street / U.S., Buy, $40.00. Stifel / U.S., Hold, $36.00. IBI Investment / Israel, Outperform, $30.70",
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      "kind": "title",
      "text": "A Consensus Buy... Really?",
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