PubMatic price target lowered to $14 from $17 at RBC Capital

RBC Capital analyst Matthew Swanson lowered the firm’s price target on PubMatic (PUBM) to $14 from $17 and keeps an Outperform rating on the shares. The firm expects to see in-line results when PubMatic reports next week as checks pointed to a stable demand environment to start the year but more caution around Q2 and the second half given the near-term macro uncertainty, the analyst tells investors in a research note.