Oppenheimer analyst Jason Helfstein lowered the firm’s price target on PubMatic to $23 from $28 following quarterly results, while keeping an Outperform rating on the shares on valuation and expected continued outperformance versus industry. Q3 weakness and Q4 outlook primarily driven by softness in display offsetting continued SPO adoption and CTV growth, driven by publisher adoption, the analyst notes.
Published first on TheFly
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