PubMatic, Inc.Long
8/9/24 - $pubm - Started position at $13.5
8/9/24 :: VROCKSTAR :: PUBM
Started position at $13.5
- ad solution with ~4% market share
- bad environment, stock now tells that story/ sufficiently punished
- cash of 165 mm (no debt) leaves this thing (after today's -30% move near ~113.5/SHR) at close to $300 mm valuation ex cash.
- round down $80 mm annualized EBITDA... to $60 mm and you're at 5x EBITDA for something that can grow DD
- FCF yield also in the low SD's
- not without some hair
- starting (an investment/ not swing) position here at $13.5 at 50 bps, would like to take to 1% if/as we get closer to $12
- below $12 and i'm starting to look at leverage (calls), but we're not there yet
LMK what you think.
V
PUBMStarted position at $13.5
- ad solution with ~4% market share
- bad environment, stock now tells that story/ sufficiently punished
- cash of 165 mm (no debt) leaves this thing (after today's -30% move near ~113.5/SHR) at close to $300 mm valuation ex cash.
- round down $80 mm annualized EBITDA... to $60 mm and you're at 5x EBITDA for something that can grow DD
- FCF yield also in the low SD's
- not without some hair
- starting (an investment/ not swing) position here at $13.5 at 50 bps, would like to take to 1% if/as we get closer to $12
- below $12 and i'm starting to look at leverage (calls), but we're not there yet
LMK what you think.
V
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.