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

Shares of PubMatic, Inc. (NASDAQ:PUBM – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $18.14.

Several equities analysts have recently weighed in on PUBM shares. Oppenheimer dropped their price objective on shares of PubMatic from $23.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st. Raymond James decreased their price target on shares of PubMatic from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. Jefferies Financial Group decreased their price target on shares of PubMatic from $16.00 to $15.00 in a research note on Thursday, December 15th. Evercore ISI decreased their price target on shares of PubMatic to $18.00 in a research note on Tuesday, November 15th. Finally, Royal Bank of Canada decreased their price target on shares of PubMatic from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st.

PubMatic Price Performance

Shares of PUBM opened at $13.32 on Wednesday. The firm has a market capitalization of $703.70 million, a PE ratio of 26.64 and a beta of 0.92. The company’s 50-day moving average is $14.80 and its 200-day moving average is $15.70. PubMatic has a fifty-two week low of $12.19 and a fifty-two week high of $28.30.

Insiders Place Their Bets

In other PubMatic news, Chairman Amar K. Goel sold 2,345 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $13.00, for a total transaction of $30,485.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Rajeev K. Goel sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $13.78, for a total value of $413,400.00. Following the sale, the chief executive officer now directly owns 17,449 shares in the company, valued at approximately $240,447.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Amar K. Goel sold 2,345 shares of the firm’s stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $13.00, for a total transaction of $30,485.00. The disclosure for this sale can be found here. Insiders have sold 52,628 shares of company stock worth $711,572 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC raised its holdings in PubMatic by 9.3% in the 4th quarter. Voya Investment Management LLC now owns 24,794 shares of the company’s stock valued at $318,000 after buying an additional 2,104 shares during the last quarter. State of Wyoming raised its holdings in PubMatic by 20.1% in the 4th quarter. State of Wyoming now owns 10,267 shares of the company’s stock valued at $132,000 after buying an additional 1,719 shares during the last quarter. Man Group plc bought a new position in PubMatic in the 4th quarter valued at approximately $159,000. AQR Capital Management LLC bought a new position in PubMatic in the 4th quarter valued at approximately $433,000. Finally, Ancora Advisors LLC bought a new position in PubMatic in the 4th quarter valued at approximately $26,000. 41.61% of the stock is currently owned by institutional investors and hedge funds.

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.