Lake Street raised the firm’s price target on PubMatic to $27 from $19 and keeps a Buy rating on the shares after the company “overcame its sizable Yahoo headwind” and returned to double-digit revenue growth in what the firm calls a “solid quarter.” The firm, which believes SPO and Activate will continue to act as long-term growth drivers, took our 2024 estimates higher given the company’s “brighter ad spending outlook and solid guidance.”
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