Royal Bank of Canada Increases PubMatic (NASDAQ:PUBM) Price Target to $20.00

PubMatic (NASDAQ:PUBM – Get Rating) had its price target upped by Royal Bank of Canada from $18.00 to $20.00 in a research note published on Monday, The Fly reports.

Other equities research analysts also recently issued reports about the company. B. Riley began coverage on PubMatic in a report on Wednesday, April 12th. They issued a buy rating and a $20.00 target price for the company. Raymond James lowered their target price on PubMatic from $18.00 to $17.00 and set an outperform rating for the company in a report on Wednesday, March 1st. JMP Securities reiterated a market outperform rating and issued a $21.00 target price on shares of PubMatic in a report on Thursday, March 16th. Oppenheimer lowered their target price on PubMatic from $23.00 to $17.00 and set an outperform rating for the company in a report on Wednesday, March 1st. Finally, Vertical Research downgraded PubMatic to a neutral rating in a report on Tuesday, January 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $18.38.

PubMatic Price Performance

PubMatic stock opened at $17.21 on Monday. The stock’s 50 day moving average is $14.10 and its 200 day moving average is $14.39. The firm has a market cap of $893.89 million, a P/E ratio of 55.52 and a beta of 0.87. PubMatic has a one year low of $11.73 and a one year high of $23.60.

PubMatic (NASDAQ:PUBM – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The company had revenue of $74.30 million during the quarter, compared to analyst estimates of $76.74 million. PubMatic had a return on equity of 9.89% and a net margin of 7.02%. Equities analysts anticipate that PubMatic will post 0.14 earnings per share for the current fiscal year.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 4,673 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $13.43, for a total value of $62,758.39. Following the completion of the sale, the chief financial officer now directly owns 17,442 shares of the company’s stock, valued at approximately $234,246.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Steven Pantelick sold 4,673 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $13.43, for a total value of $62,758.39. Following the completion of the sale, the chief financial officer now directly owns 17,442 shares of the company’s stock, valued at approximately $234,246.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajeev K. Goel sold 30,000 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $13.78, for a total value of $413,400.00. Following the completion of the sale, the chief executive officer now directly owns 17,449 shares of the company’s stock, valued at $240,447.22. The disclosure for this sale can be found here. In the last three months, insiders sold 59,544 shares of company stock valued at $816,344. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PUBM. Advisor Group Holdings Inc. grew its stake in PubMatic by 78.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 10,383 shares of the company’s stock valued at $271,000 after purchasing an additional 4,575 shares during the period. Raymond James & Associates grew its stake in shares of PubMatic by 56.1% during the 1st quarter. Raymond James & Associates now owns 53,311 shares of the company’s stock worth $1,392,000 after acquiring an additional 19,153 shares during the period. Citigroup Inc. grew its stake in shares of PubMatic by 39.9% during the 1st quarter. Citigroup Inc. now owns 6,605 shares of the company’s stock worth $173,000 after acquiring an additional 1,883 shares during the period. Bank of Montreal Can bought a new position in shares of PubMatic during the 1st quarter worth $1,682,000. Finally, Acadian Asset Management LLC grew its stake in shares of PubMatic by 78.4% during the 1st quarter. Acadian Asset Management LLC now owns 15,160 shares of the company’s stock worth $393,000 after acquiring an additional 6,660 shares during the period. Institutional investors own 41.61% of the company’s stock.

PubMatic Company Profile

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PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.