5 Tech Stocks to Sell Now According to Cathie Wood

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In this article, we will take a look at the 5 tech stocks to sell now according to Cathie Wood. To read our analysis of the recent trends and market activity, you can go to the 11 Tech Stocks to Sell Now According to Cathie Wood.

5. Perion Network Ltd (NASDAQ:PERI)

Percentage of Stake Sold by ARK Investment Management in Q2 2023: 34%

Number of Hedge Fund Holders: 23

Tel Aviv, Israel-based Perion Network Ltd (NASDAQ:PERI) is a global multi-channel advertising technology company that delivers synergistic solutions across all major channels of digital advertising – including search advertising, social media, display, video, and CTV advertising.

On August 2, Perion Network Ltd (NASDAQ:PERI) released its financial results for Q2 2023. Its revenue increased by 22% y-o-y to $179 million, while net income increased by 10% y-o-y to $21 million. At $0.84, its normalized EPS for the quarter exceeded consensus estimates by $0.18.

Following the earnings release, Oppenheimer raised the price target on Perion Network Ltd (NASDAQ:PERI) shares to $45 from $44 and maintained an ‘Overweight’ rating on the shares.

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