PubMatic, Inc. (NASDAQ:PUBM) Receives $21.00 Consensus Target Price from Analysts

Shares of PubMatic, Inc. (NASDAQ:PUBM) have earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

PUBM has been the topic of several analyst reports. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. B. Riley lowered their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company 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. 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. Finally, Jefferies Financial Group lowered their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th.

PubMatic Price Performance

Shares of NASDAQ PUBM opened at $14.68 on Friday. The company’s 50 day simple moving average is $17.38 and its 200 day simple moving average is $20.48. PubMatic has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The firm has a market capitalization of $727.83 million, a P/E ratio of 69.91 and a beta of 1.40.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $70.07 million. During the same period in the prior year, the business posted ($0.11) earnings per share. PubMatic’s revenue was up 6.2% compared to the same quarter last year. Sell-side analysts expect that PubMatic will post 0.2 EPS for the current fiscal year.

Insider Transactions at PubMatic

In other news, CAO Lisa Gimbel sold 2,397 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.66, for a total transaction of $32,743.02. Following the completion of the sale, the chief accounting officer now owns 3,956 shares of the company’s stock, valued at $54,038.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Lisa Gimbel sold 2,397 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.66, for a total transaction of $32,743.02. Following the completion of the sale, the chief accounting officer now owns 3,956 shares of the company’s stock, valued at $54,038.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Amar K. Goel sold 3,755 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total transaction of $77,503.20. Following the sale, the chairman now directly owns 5,242 shares of the company’s stock, valued at approximately $108,194.88. The disclosure for this sale can be found here. Insiders sold 119,062 shares of company stock valued at $2,182,046 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PUBM. Millennium Management LLC acquired a new position in PubMatic during the second quarter worth $6,582,000. Acadian Asset Management LLC boosted its holdings in PubMatic by 28,255.4% during the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock worth $5,915,000 after purchasing an additional 290,465 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after purchasing an additional 265,700 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in PubMatic by 17.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after purchasing an additional 228,190 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in PubMatic by 92.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Company Profile

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.