RBC Capital on PubMatic Inc (PUBM) Acqusition of Martin: 'we appreciate the strategic direction'

RBC Capital analyst Matthew Swanson reiterated an Outperform rating and $31.00 price target on PubMatic Inc (NASDAQ: PUBM).

The analyst comments "Before market open, Pubmatic announced that it has entered into a definitive agreement to acquire Martin, a media measurement and reporting firm, for $45M to deepen its SPO offering. The acquisition, which is expected to close in mid-September, will be financed entirely through cash on the balance sheet. Maintain our OP rating and $31 PT as we appreciate the strategic direction focused around deeper relationships with its customers."

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

Shares of PubMatic Inc closed at $17.96 yesterday.

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