PubMatic price target raised to $30 from $26 at RBC Capital

RBC Capital raised the firm’s price target on PubMatic to $30 from $26 and keeps an Outperform rating on the shares. The company’s Q1 results were “strong”, with 20% revenue growth and 23% EBITDA margins, the analyst tells investors in a research note. PubMatic fundamental business drivers continue to expand, with Supply Path Optimization, or SPO, accounting for 50% of activity, strategic partnerships in connected TV and retail media, and growing contribution of emerging revenue streams, the firm added.