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

Shares of PubMatic, Inc. (NASDAQ:PUBM) have earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $19.11.

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada decreased their price target on shares of PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Lake Street Capital decreased their price target on shares of PubMatic from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, May 9th.

Insider Transactions at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 33,001 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total value of $414,492.56. Following the completion of the transaction, the chief executive officer directly owned 32,515 shares of the company’s stock, valued at $408,388.40. This trade represents a 50.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Pantelick sold 15,690 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $12.82, for a total transaction of $201,145.80. Following the completion of the transaction, the chief financial officer directly owned 30,702 shares of the company’s stock, valued at approximately $393,599.64. The trade was a 33.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,294 shares of company stock worth $2,675,306. 26.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in PubMatic in the 4th quarter valued at $27,000. JPMorgan Chase & Co. lifted its holdings in shares of PubMatic by 263.0% during the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock worth $3,325,000 after acquiring an additional 163,979 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of PubMatic by 75.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock worth $77,000 after acquiring an additional 2,240 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of PubMatic during the 1st quarter worth $379,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of PubMatic by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock worth $22,531,000 after acquiring an additional 84,317 shares during the last quarter. 64.26% of the stock is owned by institutional investors.

PubMatic Stock Performance

NASDAQ:PUBM opened at $12.99 on Friday. The firm has a market cap of $630.40 million, a price-to-earnings ratio of 162.40 and a beta of 1.54. PubMatic has a 52 week low of $7.46 and a 52 week high of $22.99. The firm has a 50-day moving average price of $11.67 and a two-hundred day moving average price of $12.03.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PubMatic had a return on equity of 1.99% and a net margin of 1.90%. The company had revenue of $63.83 million for the quarter, compared to analysts’ expectations of $62.07 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that PubMatic will post 0.22 earnings per share for the current year.

About PubMatic

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.