PubMatic, Inc. (NASDAQ:PUBM) Receives $19.89 Average Target Price from Analysts

PubMatic, Inc. (NASDAQ:PUBM) has been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.89.

PUBM has been the subject of a number of research reports. Scotiabank lowered their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Royal Bank of Canada lowered their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Finally, Lake Street Capital reduced their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 28th.

PubMatic Stock Performance

Shares of NASDAQ:PUBM opened at $8.25 on Thursday. The business has a fifty day moving average of $12.44 and a 200-day moving average of $14.27. PubMatic has a twelve month low of $7.90 and a twelve month high of $25.36. The firm has a market cap of $400.35 million, a PE ratio of 26.61 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. On average, analysts anticipate that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling at PubMatic

In related news, CEO Rajeev K. Goel sold 18,391 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $15.44, for a total value of $283,957.04. Following the completion of the sale, the chief executive officer now owns 12,505 shares in the company, valued at $193,077.20. This represents a 59.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $9.14, for a total value of $228,500.00. Following the sale, the chief executive officer now directly owns 32,304 shares in the company, valued at $295,258.56. The trade was a 43.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,601 shares of company stock valued at $1,312,081. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Several institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC acquired a new position in shares of PubMatic in the third quarter valued at approximately $170,000. Charles Schwab Investment Management Inc. lifted its position in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after acquiring an additional 239,406 shares in the last quarter. FMR LLC boosted its stake in PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PubMatic by 37.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock worth $187,000 after purchasing an additional 3,461 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after purchasing an additional 100,479 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.