PubMatic, Inc. (NASDAQ:PUBM) Receives $21.00 Average PT from Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has received a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $21.00.

PUBM has been the topic of a number of analyst reports. B. Riley cut their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wolfe Research began coverage on shares of PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price objective on the stock. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Macquarie lowered their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, Royal Bank of Canada lowered their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th.

PubMatic Stock Performance

Shares of PUBM opened at $15.12 on Thursday. PubMatic has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The stock has a market capitalization of $754.96 million, a PE ratio of 72.00 and a beta of 1.39. The company’s fifty day moving average is $14.97 and its 200 day moving average is $19.48.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. The business had revenue of $67.27 million for the quarter, compared to analysts’ expectations of $70.07 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that PubMatic will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $18.73, for a total value of $468,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $18.73, for a total value of $468,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew Woods sold 2,710 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the sale, the general counsel now directly owns 26,739 shares of the company’s stock, valued at approximately $409,106.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,896 shares of company stock valued at $1,731,463 over the last three months. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On PubMatic

Large investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new position in PubMatic in the second quarter worth about $29,000. Founders Capital Management raised its holdings in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC bought a new position in PubMatic in the second quarter worth about $38,000. SG Americas Securities LLC bought a new position in PubMatic in the first quarter worth about $107,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PubMatic by 56.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after purchasing an additional 3,280 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors.

About PubMatic

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.