PubMatic, Inc. (NASDAQ:PUBM) Receives Consensus Rating of “Buy” from Brokerages

PubMatic, Inc. (NASDAQ:PUBM – Get Rating) has received an average recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $44.00.

PUBM has been the topic of a number of recent analyst reports. KeyCorp lowered their price target on shares of PubMatic from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, March 1st. Royal Bank of Canada decreased their price objective on shares of PubMatic from $46.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, March 16th. Zacks Investment Research raised shares of PubMatic from a “sell” rating to a “hold” rating in a report on Thursday, March 3rd. Raymond James decreased their price objective on shares of PubMatic from $50.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. Finally, JMP Securities decreased their price objective on shares of PubMatic from $64.00 to $49.00 and set a “market outperform” rating on the stock in a report on Tuesday, March 1st.

In other news, insider Amar K. Goel sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $25.26, for a total value of $606,240.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mukul Kumar sold 1,012 shares of the firm’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $27.74, for a total transaction of $28,072.88. Following the sale, the insider now owns 5,048 shares of the company’s stock, valued at $140,031.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,192 shares of company stock worth $3,869,050. Insiders own 89.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its position in PubMatic by 30.4% during the third quarter. Captrust Financial Advisors now owns 1,304 shares of the company’s stock worth $34,000 after purchasing an additional 304 shares during the last quarter. Legal & General Group Plc increased its position in PubMatic by 6.4% during the fourth quarter. Legal & General Group Plc now owns 6,230 shares of the company’s stock worth $212,000 after purchasing an additional 376 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in PubMatic during the fourth quarter worth about $26,000. Spire Wealth Management acquired a new stake in PubMatic during the fourth quarter worth about $34,000. Finally, First Horizon Advisors Inc. acquired a new stake in shares of PubMatic during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 23.35% of the company’s stock.

NASDAQ:PUBM opened at $22.86 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 22.63 and a beta of -0.07. PubMatic has a 1-year low of $18.30 and a 1-year high of $56.49. The company’s fifty day moving average price is $24.97 and its 200-day moving average price is $28.90.

PubMatic (NASDAQ:PUBM – Get Rating) last released its quarterly earnings data on Monday, February 28th. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.16. The business had revenue of $75.56 million during the quarter, compared to analyst estimates of $75.34 million. Equities research analysts forecast that PubMatic will post 0.63 EPS for the current fiscal year.

PubMatic Company Profile (Get Rating)

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.

Further Reading