PubMatic (PUBM) Extends Adverty Partnership, Boosts Prospects
PubMatic PUBM is leaving no stone unturned to expand its customer base, supported by its strong partner base.
Its latest extension of the partnership with Adverty holds testimony to the aforesaid fact. This strengthens PubMatic’s footing as a global Private Marketplace partner in the digital advertising space.
In-game advertising presents a significant growth opportunity for PubMatic. Per a Statista report, the in-game advertising market is expected to reach $157.5 billion by 2028, indicating a CAGR of 10.7% between 2023 and 2028.
An imarc report indicates that the global in-game advertising market will reach $13.3 billion by 2028, witnessing a CAGR of 10.6% during the forecast period of 2023-2028.
PubMatic, Inc. Price and Consensus
PubMatic, Inc. price-consensus-chart | PubMatic, Inc. Quote
Growth Prospects Bright for PubMatic
PubMatic’s focus on enhancing its global reach based on ongoing collaborations is noteworthy. This is evident from its recent partnerships with PhonePe, Experian EXPGY and Comcast CMCSA.
PubMatic partnered with PhonePe to integrate PhonePe's premium mobile app inventory and diverse audience with its programmatic buying ecosystem.
By partnering with Experian, a leading global information services company, PubMatic became the first sell-side technology provider of Experian marketing data in the United States and U.K. The collaboration utilizes syndicated audiences and privacy-centric insights to revolutionize data-driven advertisement and digital transformation in commerce media.
The company’s partnership with Comcast Division Freewheel allows PubMatic's Activate to have direct access to premium publisher-connected television ad inventory through FreeWheel, enhancing ad buyers' transactions and providing FreeWheel publishers with unique campaign budgets.
Moreover, PubMatic expands its reach into Asia-Pacific with Activate, partnering with Dentsu APAC, iQIYI, Kinesso India, Madison Digital and Wishmedia to transform traditional transactions into programmatic deals for CTV/OTT and online video.
These collaborations are expected to aid PubMatic’s top-line growth. For the fourth quarter of 2023, PUBM expects revenues between $76 million and $80 million. The Zacks Consensus Estimate for the current quarter is pegged at $78.15 million, indicating an increase of 5.18% year over year.
Zacks Rank & Another Stock to Consider
Currently, PUBM carries Zacks Rank #2 (Buy).
PUBM shares have gained 43.3% in the past three months, outperforming the Zacks Computer & Technology sector’s return of 8.3%.
Another top-ranked stock in the broader technology sector is Badger Meter BMI, which sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Badger Meter have lost 3.3% in the past three months. BMI’s long-term earnings growth rate is 20.39%.
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