RBC Capital Cuts Price Target on TubeMogul (TUBE) Following 2Q Results

RBC Capital maintained an Outperform rating on TubeMogul, Inc (NASDAQ: TUBE), and cut the price target to $18.00 (from $20.00), following the company's 2Q earnings results. Revenues of $45.4MM beat $39.16MM consensus. Management guided Q3 revenue at $40MM above the Street’s $37MM. EBITDA is guided at in line with Street's ($4MM) estimate.

Analyst Rohit Kulkarni commented, "TUBE reported Q2 results cleanly above Street expectations, with accelerating ad spend growth driven by momentum in the core self-service offering, Programmatic TV, & Branded Display. Maintain Outperform. Our estimates go up by 5-10%. PT goes to $18, largely driven by recently issued shares."

For an analyst ratings summary and ratings history on TubeMogul, Inc click here. For more ratings news on TubeMogul, Inc click here.

Shares of TubeMogul, Inc closed at $11.39 yesterday.

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