PUBM - Why PubMatic Stock Rose 38% Last Month
2024-03-05 13:21:00 ET
Shares of advertising technology (adtech) company PubMatic (NASDAQ: PUBM) rose 37.9% during February, according to data provided by S&P Global Market Intelligence . The stock meandered along for most of the month before skyrocketing right at the end. The sharp rise in late February coincided with the company's latest financial report.
The report in question was for PubMatic's fourth quarter of 2023. It came out on Feb. 26 and showed that the company generated quarterly revenue of nearly $85 million, up 14% year over year. For perspective, management had expected Q4 revenue of only $76 million to $80 million.
Not only did it solidly outperform management's guidance, but PubMatic's 14% top-line growth was its best growth rate in over a year, as the chart below shows.
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Why PubMatic Stock Rose 38% Last Month