#6 - PubMatic (NASDAQ:PUBM)
PubMatic Inc. (NASDAQ: PUBM) operates in the emerging area of programmatic advertising. The company operates a sell-side digital advertising platform that connects publishers and app developers with advertisers in real-time bidding auctions that allow ad space to be sold more effectively.
The company posted a surprise profit in its November 2023 earnings report. That lifted PUBM stock about 3%, but that has barely put the stock in the black in the last 12 months.
Investors may buy the idea that digital ad spending is likely to increase in 2024. But even if it doesn't, PubMatic provides a reason to own the stock. That is, the company does not rely on third-party cloud computing platforms to run its infrastructure. That means the company can pull back on capex spending when ad revenue is down.
That being said, PubMatic is forecasting 600% earnings growth in the next 12 months. That may not be fully priced into analysts' 17% stock price growth forecast.
About PubMatic
PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.
Read More - Current Price
- $16.18
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 5 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $21.71 (34.2% Upside)
