Scotiabank initiated coverage of PubMatic (PUBM) with a Sector Perform rating and $17 price target as the firm initiated coverage of sic companies in the advertising technology space. PubMatic’s valuation may appeal to value-oriented investors, but the firm sees limited catalysts for significant outperformance in the near term, the analyst says. The company’s relatively slower growth and weaker exposure to the largest secular trend in digital advertising, namely CTV, make it less compelling than Magnite (MGNI), which the firm views as better positioned to drive revenue growth and margin expansion, the analyst added.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PUBM:
- JMP Securities digital advertising analyst hold analyst/industry conference call
- PubMatic expands collaboration with Western Union
- PubMatic, DIGITS agency brings advanced AdTech to local grocery, stores
- PubMatic, Xumo partner to expand programmatic advertising
- PubMatic (NASDAQ:PUBM) Stock Rises on Partnership Deal with X