PubMatic price target lowered to $15 from $17 at Scotiabank

Scotiabank lowered the firm’s price target on PubMatic (PUBM) to $15 from $17 and keeps a Sector Perform rating on the shares. The company reported disappointing Q4 results as well as Q1 guidance, the analyst tells investors. While the company’s CTV offering remains strong, the firm sees limited catalysts for significant outperformance in the near term.