PubMatic Analysts Slash Their Forecasts After Q2 Results
Portfolio Pulse from Lisa Levin
PubMatic, Inc. (NASDAQ:PUBM) reported better-than-expected Q2 sales but issued a weak revenue forecast for Q3. The company's Q2 sales were $63.33 million, beating estimates of $59.89 million. However, its Q3 revenue forecast of $58 million to $61 million fell short of expectations of $65.93 million. Following the announcement, PubMatic's shares dipped 19% and analysts from Raymond James, Macquarie, and Oppenheimer revised their price targets and ratings.
August 09, 2023 | 12:46 pm
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PubMatic's Q2 results beat estimates but its Q3 revenue forecast was disappointing, leading to a 19% dip in shares and revised price targets from analysts.
PubMatic's disappointing Q3 revenue forecast has led to a negative short-term impact on its stock. The company's shares dipped 19% following the announcement, indicating a lack of investor confidence. Additionally, analysts from Raymond James, Macquarie, and Oppenheimer revised their price targets and ratings, further impacting the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100