PubMatic target raised, removed from ‘Tactical Outperform’ list at Evercore

Evercore ISI raised the firm’s price target on PubMatic (PUBM) to $22 from $20 and keeps an Outperform rating on the shares following what the firm calls “Beat & Bracket” Q3 EPS results and the firm has removed the stock from its “Tactical Outperform” list with shares having risen about 3% in after-market trading. The firm’s long-term thesis remains unchanged and it views year-to-date underperformance as a buying opportunity ahead of FY25 catalyst path, the analyst added.