PubMatic Inc (PUBM) PT Raised to $23 at Rosenblatt

Rosenblatt analyst Barton Crockett raised the price target on PubMatic Inc (NASDAQ: PUBM) to $23.00 (from $21.00) while maintaining a Buy rating.

The analyst comments "PubMatic delivered a surprise acceleration to double-digit growth in 2Q26, with new revenue growth endeavors, including the ramp of agentic AI, and expansion into mid-tier SSPs, mobile ads and audio, outweighing the wind down of headwinds from a DSP partner reset. This bolsters our view of the equity, where we raise our price target by $2 to $23, of which $10 is AdTech antitrust remedies, and the balance is the core business at a 2026EV/EBITDA of nearly 7x, a meaningful discount to a growth CAGR we now put in the low 20s."

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