Is PubMatic Stock a Buy Now?
Ad tech firm PubMatic (NASDAQ: PUBM), like many businesses reliant on advertising income, was affected by a downturn in the advertising industry over the past year. Uncertain macroeconomic conditions, such as rising inflation, contributed to 11 consecutive months of declines in ad spending.
The advertising industry finally snapped this streak in May with a 2.5% increase in ad spending, up from April's 1.4% drop. This sign of a reversing industry trend coupled with a cooldown in inflation suggests a rosier 2023 for PubMatic.
In fact, PubMatic's shares climbed past $19 at the time of this writing, from a 52-week low of $11.73 reached on May 4, but still off its high of $23.60. So is now the time to invest in PubMatic? Let's dig into the company's performance to understand whether it makes a good long-term investment.
Source Fool.com
