The Prognosis For PubMatic

  • PubMatic's stock has rebounded 70% from April 2025 lows, but structural headwinds and a challenged SSP model limit upside despite recent product pivots. Management highlights growth in CTV and SPO, strong cash flow, and a debt-free balance sheet, but these positives are offset by lost business and industry shifts. Can the rally in the shares continue?  A prognosis around PubMatic follows in the paragraphs below.