PubMatic Inc (PUBM) PT Lowered to $23 at RBC Capital

RBC Capital analyst Matthew Swanson lowered the price target on PubMatic Inc (NASDAQ: PUBM) to $23.00 (from $26.00) while maintaining a Outperform rating.

The analyst comments "We hosted Pubmatic for a vNDR with investors where focus remained on macro commentary and company-specific headwinds and tailwinds heading into the 2H. While we remain mindful of the near-term challenges, guidance seems derisked, as we think upside in 2H and 2025 could come from SPO, mobile, continued CTV gains, political, and broader macro improvement. We maintain our Outperform rating and reduce our PT to $23 from $26 on peer multiple compression as we turn to CY/25E."

You May Also Be Interested In

• Bernstein SocGen Group Upgrades Analog Devices (ADI) to Outperform
• BofA Securities Upgrades Moderna (MRNA) to Neutral
• Target (TGT) PT Raised to $167 at Truist Securities