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  "docSlug": "9551be67f14d",
  "documentTitle": "Perion Network Ltd. (PERI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-05-23 00:00:00",
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  "notes": "The chart shows a significant spike in 2021 followed by a decline, with the current level sitting above the long-term average line.",
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      "text": "We do not believe PERI's recent valuation expansion is warranted in light of the numerous concerns we've raised about the quality of its accounting, financial disclosures, and sustainability of its recent financial performance. We expect the multiple to contract below average now that PERI's recent growth period is likely to be ending.",
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      "text": "We do not believe PERI's recent valuation expansion is warranted in light of the numerous concerns we've raised about the quality of its accounting, financial disclosures, and sustainability of its recent financial performance.",
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      "text": "PERI Historical EV / Forward EBITDA Multiple",
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      "text": "EV / Forward EBITDA Multiple: 6.9797",
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      "text": "Source: Bloomberg",
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      "kind": "title",
      "text": "PERI's Valuation Has Unjustly Expanded",
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