PubMatic price target lowered to $18 from $20 at Citizens JMP

Citizens JMP lowered the firm’s price target on PubMatic (PUBM) to $18 from $20 and keeps an Outperform rating on the shares. PubMatic reported “mixed” Q4 results, with revenue coming in 1% below the low end of guidance and EBITDA 2% above the high end, the analyst tells investors in a research note. While Q1 guidance implies a 7% year over year decline in revenue, PubMatic expects to exit 2025 with high single-digit growth despite a tough political comp, the firm adds. While there are ongoing issues with PubMatic’s demand-side platform partner, the pricing change will be lapped in May and there should be stronger growth in the second half, Citizens argues.