RBC Capital analyst Matthew Swanson raised the firm’s price target on PubMatic to $26 from $19 and keeps an Outperform rating on the shares. The company reported a “strong” Q4 and 2024 may mark a “macro turning point”, the analyst tells investors in a research note. PubMatic’s Q4 results were broad-based with all top ten verticals showing strong performance, though the growing momentum in its emerging products should be the focus along, with an above-industry benefit from an improving macro, the firm added.
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