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PubMatic PUBM shares have lost 10.4% year to date against the Zacks Computer and Technology Sector and S&P 500 index’s return of 19.5% and 18.1%, respectively.
PubMatic stock has also underperformed the Zacks Internet - Software industry’s return of 15.7% in the same time frame. The underperformance is mainly due to PUBM stock’s sharp decline following its missed revenue estimates for the second quarter of 2024.
However, PUBM is constantly winning big clients, implying the company’s ability to gain market share. PubMatic recently secured a Supply Path Optimization (SPO) deal with a global healthcare giant, Haleon. PUBM will execute SPO for Haleon’s media investments where it will streamline access to video, display and connected TV inventory while promoting sustainability in media investments.
Haleon will also leverage PUBM’s transparent bidding services and have direct access to inventory sources, where it will bypass unnecessary intermediaries to reduce costs and carbon footprint. The collaboration will enable Haleon’s data-driven decisions, ramp up media impressions and increase the efficiency of ad campaigns.
Deal Wins to Aid PubMatic’s Prospects
PUBM is constantly increasing its clientele in the SPO category where it has also signed a deal with Netherland-based Omnicom Media Group and another consumer electronic company, Roku ROKU. Another major deal includes PUBM’s collaboration with Disney’s DIS Diney+ Hotstar to expand the latter’s advertising reach in India.
Roku recently integrated PUBM’s expertise into its Roku Exchange platform. ROKU is leveraging PUBM’s expertise in the SPO and Activate platform to increase the usage of its ad inventory. The deal with Disney is leveraging PUBM’s solutions for programmatic monetization of content in several buying channels. This also includes private marketplace and programmatic guaranteed campaigns.
PubMatic YTD Performance
In the second quarter of 2024, PUBM added Roblox and Rapido to its clientele. Other major companies like Netflix NFLX and NBC are opening up programmatic access to their high-end inventory through PUBM’s solutions.
The continuous flow of contracts will drive PubMatic’s top-line growth. The Zacks Consensus Estimate for 2024 and 2025 suggests revenues to grow in the high-single-digit percentage range.
Near-Term Headwinds for PUBM Stock
PUBM is also facing some macroeconomic headwinds due to the high inflation, higher interest rates and geopolitical tensions forcing enterprises to delay their IT spending.
One of PubMatic’s major DSP clients also revised the bidding approach, affecting PUBM’s top line. PubMatic also faces stiff competition in the advertising space from Amazon (AMZN), Google and Meta.
There is direct competition from Amazon’s Transparent Ad Marketplace and Alphabet’s Google Open Bidding that remain a major concern. Google and Amazon, which are much larger entities and command a larger resource base, put enormous pressure on PubMatic.
The Zacks Consensus Estimate for PUBM’s 2024 revenues is pegged at $290 million, indicating year-over-year growth of 8.7%.
Conclusion: Hold PUBM Stock for Now
An uncertain macroeconomic environment and stiff competition might hurt PubMatic’s near-term growth prospects. However, a strong client base of big companies and a steady flow of contracts provide the company with the required stability in the ongoing macroeconomic uncertainties. So, it is prudent for investors to hold PUBM stock for now. PubMatic currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
Roku, Inc. shares are trading higher in the morning session on Wednesday.
The company has introduced Roku Ads Manager, a self-service platform tailored for CTV performance.
“In order to meet growth marketers’ needs across all direct-to-consumer brands, we built a seamless solution to buying CTV video ads for brands of any size,” said Louqman Parampath, VP of Product Management, Roku.
As TV ad spending increasingly moves away from linear formats and digital-native marketers seek to expand beyond search and social media, Roku said its Ads Manager will support the success of growth marketers.
The VP noted that Roku Ads Manager is uniquely equipped to provide data, optimization, and advertising formats unavailable in other CTV self-serve solutions, such as native shoppable campaigns with Shopify, while also offering a buying experience similar to that of search and social media.
Also Read: MicroStrategy Raises $875M In Convertible Notes, Plans Further Bitcoin Purchases
Roku Ads Manager offers competitive pricing and spending efficiency by utilizing Roku’s direct premium inventory without third-party fees. Marketers can create interactive video overlays, allowing viewers to send themselves text messages while watching ads.
Additionally, Shopify merchants can launch self-service shoppable ads, enabling consumers to complete purchases directly using their Roku remote.
According to Benzinga Pro, ROKU stock has lost over 14% year to date. Investors can gain exposure to the stock via ARK Next Generation Internet ETF and iShares U.S. Telecommunications ETF .
Price Action: ROKU shares are trading higher by 2.22% to $76.33 at last check Wednesday.
Photo via Shutterstock
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The U.S. stock market had a mixed close on Tuesday. The Dow Jones slipped slightly by 0.4%, finishing at 41,606.18. Meanwhile, the S&P 500 edged up 0.03% to 5,634.58, and the Nasdaq gained 0.2%, closing at 17,628.06.
Investors are now keenly awaiting the Federal Reserve’s meeting scheduled for Wednesday, where a cut in interest rates is widely expected.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Intuitive Machines’ stock plummeted by 5.59%, closing at $5.40 after hitting an intraday high and low of $5.87 and $5.34 respectively. The company’s shares surged 55.6% to $8.40 in extended trading after it secured a NASA contract for communication and navigation services in the near space region.
Netflix’s stock rose by 1.49% to close at $706.91. The streaming giant’s shares reached an intraday high of $707.63 and a low of $698.37. Co-CEO Ted Sarandos stated that there’s no such thing as too much content in the ever-changing streaming sector.
See Also: Elon Musk Reacts After Trump Campaign Releases Over 50 Examples of Democrats’ Rhetoric That ‘Inspired Assassination Attempt’
Li Auto’s stock soared by 12.28% to close at $21.39. The Chinese electric vehicle manufacturer’s shares hit an intraday high and low of $21.4 and $20.21 respectively. The company’s stock traded higher following a report indicating that the People's Bank of China plans to cut the bank reserve requirement ratio.
Trump Media & Technology Group Corp
Trump Media & Technology Group stock fell by 6.60% to close at $16.14. The company’s shares hit an intraday high of $17.09 and a low of $16.10. Former President Donald Trump launched a new decentralized finance platform centered around a crypto token.
Tesla’s stock increased by 0.48% to close at $227.87. The electric vehicle maker’s shares reached an intraday high of $234.57 and a low of $226.55. Tesla switched to ‘Full Self-Driving Supervised’ for new cars, sparking a flurry of conspiracy theories.
Photo by WHYFRAME on Shutterstock
Prepare for the day’s trading with top premarket movers and news by Benzinga.
Read Next:
Chuck Schumer Says If Government Shutdown Happens It Will Be Because Of ‘Republican Poison Pills’ — ‘The American People Are Going To Hold Them Responsible’
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Sept 17 (Reuters) - Roku Inc ROKU.O:
ROKU INC - CREDIT AGREEMENT PROVIDES FOR FIVE-YEAR REVOLVING CREDIT FACILITY OF UP TO $300 MILLION
ROKU INC - ENTERED INTO A CREDIT AGREEMENT
ROKU INC: CREDIT AGREEMENT PROVIDES FOR A $100 MILLION SUB-FACILITY FOR ISSUANCE OF LETTERS OF CREDIT
ROKU - CREDIT AGREEMENT INCLUDES UNCOMMITTED INCREASE OPTION OF UP TO ADDITIONAL $300 MILLION EXERCISABLE UPON SATISFACTION OF CUSTOMARY CONDITIONS
Source text for Eikon: [ID:n0001140361-24-041308]
Further company coverage: ROKU.O
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