TubeMogul, Inc. (TUBE) is ripping 50% higher this morning with price breaking out to a fresh new all-time high of $13.86. The spike, which comes on solid volume too with 10x more shares changing hands than in a normal session, is being attributed to the company’s strong Q2 earning results after the bell Tuesday. In its first earnings as a public company, TubeMogul reported revenue of $28.7 million, an increase of 127% on a year-over-year basis. Net income was $2.1 million, compared to a net loss of $2.6 million a year ago.
Meanwhile, analysts at RBC Capital Markets raised their TUBE price target on Wednesday to $13.00 from $11.00. In a note to clients, the broker said it remains a believer in TubeMogul’s long-term growth potential.
TUBE, valued at $392 million, has a negative net profit and operating margin of (9.01%) and (6.88%), respectively. Ticker has a t-12 price/sales ratio of 3.80.
The chart below shows where the equity has traded over the last couple of months.
TubeMogul, Inc. operates as an enterprise software firm for digital branding. The company was founded in 2007 and is headquartered in Emeryville, California.