PubMatic, Inc. (NASDAQ:PUBM) Given Average Recommendation of “Buy” by Analysts

PubMatic, Inc. (NASDAQ:PUBM – Get Rating) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $44.00.

PUBM has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price objective on shares of PubMatic from $46.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 16th. Raymond James lowered their price objective on shares of PubMatic from $50.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 1st. Zacks Investment Research upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. KeyCorp lowered their price objective on shares of PubMatic from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 1st. Finally, JMP Securities lowered their price objective on shares of PubMatic from $64.00 to $49.00 and set a “market outperform” rating on the stock in a research report on Tuesday, March 1st.

In related news, CEO Rajeev K. Goel sold 15,000 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $24.05, for a total value of $360,750.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Steven Pantelick sold 30,000 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $21.66, for a total transaction of $649,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 144,693 shares of company stock worth $3,255,802 over the last 90 days. Insiders own 89.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PUBM. Vanguard Group Inc. raised its stake in PubMatic by 13.8% in the 1st quarter. Vanguard Group Inc. now owns 2,682,842 shares of the company’s stock valued at $70,076,000 after purchasing an additional 325,631 shares during the last quarter. Fiera Capital Corp raised its stake in PubMatic by 0.9% in the 1st quarter. Fiera Capital Corp now owns 1,437,350 shares of the company’s stock valued at $37,544,000 after purchasing an additional 13,349 shares during the last quarter. Royal Bank of Canada raised its stake in PubMatic by 8.0% in the 1st quarter. Royal Bank of Canada now owns 1,181,482 shares of the company’s stock valued at $30,860,000 after purchasing an additional 87,549 shares during the last quarter. Renaissance Technologies LLC raised its stake in PubMatic by 14.2% in the 1st quarter. Renaissance Technologies LLC now owns 776,900 shares of the company’s stock valued at $20,293,000 after purchasing an additional 96,346 shares during the last quarter. Finally, BlackRock Inc. raised its stake in PubMatic by 13.5% in the 3rd quarter. BlackRock Inc. now owns 691,320 shares of the company’s stock valued at $18,216,000 after purchasing an additional 81,969 shares during the last quarter. Institutional investors and hedge funds own 37.58% of the company’s stock.

Shares of PubMatic stock opened at $21.55 on Thursday. The firm’s fifty day simple moving average is $23.67 and its 200-day simple moving average is $28.23. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 21.55 and a beta of 0.54. PubMatic has a 12 month low of $18.30 and a 12 month high of $44.19.

PubMatic (NASDAQ:PUBM – Get Rating) last announced its earnings results on Monday, February 28th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates 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. On average, equities analysts expect that PubMatic will post 0.64 EPS for the current 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.

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