PubMatic, Inc. (NASDAQ:PUBM) Receives $23.33 Average PT from Analysts

Shares of PubMatic, Inc. (NASDAQ:PUBM) have received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $23.33.

A number of equities analysts have issued reports on the stock. B. Riley assumed coverage on shares of PubMatic in a research report on Friday, April 19th. They set a “buy” rating and a $27.00 target price for the company. Royal Bank of Canada boosted their price objective on shares of PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, Wolfe Research initiated coverage on shares of PubMatic in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price objective for the company.

PubMatic Trading Down 5.3 %

PUBM stock opened at $20.04 on Friday. The company has a market cap of $1.00 billion, a P/E ratio of 95.43 and a beta of 1.44. PubMatic has a 52 week low of $10.92 and a 52 week high of $25.36. The company’s 50-day moving average price is $21.13 and its 200 day moving average price is $20.65.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $62.19 million. PubMatic had a net margin of 4.42% and a return on equity of 4.21%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. On average, equities research analysts expect that PubMatic will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $21.28, for a total transaction of $532,000.00. Following the completion of the sale, the chief executive officer now directly owns 9,000 shares in the company, valued at $191,520. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Amar K. Goel sold 2,200 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $24.50, for a total value of $53,900.00. Following the completion of the transaction, the chairman now directly owns 2,640 shares in the company, valued at $64,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $21.28, for a total transaction of $532,000.00. Following the completion of the transaction, the chief executive officer now owns 9,000 shares of the company’s stock, valued at $191,520. The disclosure for this sale can be found here. Insiders sold a total of 94,524 shares of company stock worth $1,980,099 over the last ninety days. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PUBM. SG Americas Securities LLC purchased a new position in shares of PubMatic in the first quarter valued at $107,000. Public Employees Retirement System of Ohio purchased a new position in shares of PubMatic in the third quarter valued at $142,000. SVB Wealth LLC acquired a new stake in PubMatic in the fourth quarter valued at $163,000. 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 valued at $185,000 after acquiring an additional 3,280 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in PubMatic in the fourth quarter valued at $191,000. 64.26% of the stock is currently owned by hedge funds and other 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.