PubMatic

Concentrated DSP Risks Will Constrain Ad Tech Amid Modest Reprieve

AnalystLowTarget

Not Invested

Community Contributor

Published

22 Jun 25

Updated

15 Dec 25

Views

n/a

AnalystLowTarget's Fair Value

n/a

-41.4%

-3.3%

-41.4%

-3.3%

You can edit this narrative until Dec 16 11:10 AM. Then, changes will post as Updates.

Author's Valuation

US$9.55.1% undervalued

AnalystLowTarget Fair Value

Narrative

Updates1

Shared on 15 Dec 25

Fair value Increased 5.56%

PUBM: Neutral Outlook Will Weigh Future Upside Despite Recent Earnings Beat

Analysts have raised their price target on PubMatic by $1 to $10 per share, citing a Q3 earnings beat, a solid Q4 outlook, slightly faster expected revenue growth, and a somewhat higher future P/E multiple despite modestly lower modeled profit margins. Analyst Commentary Bearish analysts acknowledge that the Q3 beat and constructive Q4 outlook justify a modestly higher valuation range, but they remain reluctant to recommend the shares more aggressively.

AnalystLowTarget Fair Value

US$9.5

5.1% undervalued

Future estimation in

Growth p.a.

Decrease

Increase

Current revenue growth rate

1.22%

Media revenue growth rate

0.15%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

Decrease

Increase

Current discount rate

6.96%

Calculation

US$28.38m

Earnings '28

16.39x

PE Ratio '28

US$464.94m

Market Cap '28

US$464.94m

Market Cap '28

40.61m

No. shares '28

US$11.45

Share Price '28

US$11.45 Share Price '28

Discounted to 2025 @ 6.96% p.a.

US$9.36

Fair Value '25