Investors Roundly Rejected Pubmatic Stock in 2022. Will It Be a Buy in 2023?
Investors following Pubmatic (NASDAQ: PUBM) may have predicted the digital advertiser would eventually run into a roadblock in 2022. Once the Federal Reserve began to rapidly raise interest rates at a pace not seen in decades, the writing was on the wall. It was only a matter of time before the economy would decline, the advertising market would slow, and adtech companies would feel the resulting pain.
That happened when the company released its third-quarter results showing revenue growth slowing to 11% year over year, down from 27% growth in the second quarter. The stock fell 14% the day after the report. And since 2022 looks like it will end on a weak note for the company, you might ask yourself whether the stock will continue in the doldrums in 2023 or whether it will be a time for the business to shine.
Here are a few considerations.
Source Fool.com
