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FINWIRES

PubMatic Delivers 'Solid' Start to Year, RBC Says

By

-- PubMatic (PUBM) showed a "solid" start to the year with revenue and adjusted EBITDA exceeding expectations and the high-end of guidance, RBC Capital Markets said in a Friday note.

"The fundamental drivers continue to track well with the focus being on the agentic opportunity along with tailwinds around CTV, mobile, and midmarket DSPs," the note said. CTV refers to

connected TV, and DSP to demand-side platforms.

RBC analysts said they will be looking for a double-digit growth to return in the back-half of the year as the legacy DSP headwind will lapse in intra-quarter Q3.

RBC raised its price target to $13 from $11 and maintained its outperform rating.

Price: $10.78, Change: $+0.54, Percent Change: +5.27%

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