5 Best Small-Cap AI Stocks

4. Perion Network Ltd (NASDAQ:PERI)

Number of Hedge Fund Holders: 14

Market Cap as of August 21: $920,860,000

Perion Network Ltd (NASDAQ:PERI) is a communication services company providing digital advertising solutions to brands, agencies, and publishers. The company operates an AI platform using machine learning to bring intelligence to various phases of different campaigns.

In August, Perion Network Ltd (NASDAQ:PERI) shares rallied after the company’s positive second-quarter earnings results, which showed revenue of $147 million, beating estimates by $0.3 million. Perion Network Ltd’s (NASDAQ:PERI) video revenue grew by 273% year-over-year. The company also reaffirmed its 2022 revenue outlook of $620 million to $640 million, versus the consensus estimate of $626 million.

In the second quarter, 14 hedge funds were long Perion Network Ltd (NASDAQ:PERI), compared to 17 hedge funds in the previous quarter. Their total stake values were $88.2 million and $131 million respectively.