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

PubMatic, Inc. (NASDAQ:PUBM) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $19.11.

Several analysts have recently issued reports on PUBM shares. JMP Securities restated a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Scotiabank decreased their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada dropped their target price on PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Lake Street Capital cut their target price on PubMatic from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, May 9th.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $9.83, for a total value of $39,320.00. Following the completion of the sale, the chief financial officer now owns 27,026 shares in the company, valued at approximately $265,665.58. The trade was a 12.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mukul Kumar sold 5,401 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $50,283.31. Following the transaction, the insider now owns 60,465 shares in the company, valued at $562,929.15. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,089 shares of company stock worth $768,362 in the last quarter. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On PubMatic

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC raised its holdings in shares of PubMatic by 483.6% in the first quarter. Acadian Asset Management LLC now owns 457,033 shares of the company’s stock valued at $4,174,000 after acquiring an additional 378,714 shares in the last quarter. Jane Street Group LLC increased its position in PubMatic by 55.7% during the 1st quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock valued at $1,000,000 after purchasing an additional 39,124 shares during the period. Nixon Capital LLC raised its holdings in shares of PubMatic by 8.7% in the 1st quarter. Nixon Capital LLC now owns 628,753 shares of the company’s stock valued at $5,747,000 after purchasing an additional 50,494 shares in the last quarter. Graham Holdings Co lifted its position in shares of PubMatic by 21.4% in the 1st quarter. Graham Holdings Co now owns 2,831,462 shares of the company’s stock worth $25,880,000 after purchasing an additional 500,000 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in shares of PubMatic by 5,304.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 106,523 shares of the company’s stock worth $974,000 after purchasing an additional 104,552 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Trading Up 0.2%

Shares of PubMatic stock opened at $11.43 on Friday. The firm has a market cap of $554.66 million, a PE ratio of 36.87 and a beta of 1.49. The stock has a 50 day moving average of $9.74 and a 200 day moving average of $13.04. PubMatic has a 12 month low of $7.46 and a 12 month high of $24.50.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The firm had revenue of $63.83 million for the quarter, compared to the consensus estimate of $62.07 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that PubMatic will post 0.22 earnings per share for the current fiscal year.

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.