JMP Securities raised the firm’s price target on PubMatic to $25 from $18 and keeps an Outperform rating on the shares. PubMatic reported strong Q4 results, with revenue and EBITDA coming in 8% and 15% ahead of consensus, respectively, driven by strong demand for display and omnichannel video, the analyst tells investors in a research note. PubMatic is making investments in 2024 in innovation and sales resources, and still expects margins to expand 100 basis points year over year, while helping to future-proof the platform, the firm says.
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