PubMatic’s (PUBM) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of PubMatic (NASDAQ:PUBM) in a research note issued to investors on Thursday,Benzinga reports. Rosenblatt Securities currently has a $21.00 price target on the stock.

PUBM has been the subject of a number of other research reports. Wall Street Zen cut PubMatic from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a report on Tuesday. Lake Street Capital upgraded PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. B. Riley Financial raised PubMatic from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $10.50 in a report on Friday, February 27th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $14.00 target price on shares of PubMatic in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.63.

PubMatic Trading Up 5.0%

Shares of PubMatic stock opened at $9.62 on Thursday. The firm’s 50 day simple moving average is $8.22 and its two-hundred day simple moving average is $8.30. The firm has a market capitalization of $455.99 million, a price-to-earnings ratio of -31.03 and a beta of 1.48. PubMatic has a 12-month low of $6.15 and a 12-month high of $13.88.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. The business had revenue of $80.05 million during the quarter, compared to the consensus estimate of $76.12 million. PubMatic had a negative net margin of 5.11% and a negative return on equity of 5.64%. On average, sell-side analysts predict that PubMatic will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other PubMatic news, CFO Steven Pantelick sold 16,747 shares of PubMatic stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $8.17, for a total transaction of $136,822.99. Following the completion of the transaction, the chief financial officer owned 57,601 shares in the company, valued at approximately $470,600.17. This trade represents a 22.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Rajeev K. Goel sold 49,916 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.17, for a total value of $407,813.72. Following the completion of the transaction, the chief executive officer directly owned 47,740 shares of the company’s stock, valued at approximately $390,035.80. This trade represents a 51.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 367,474 shares of company stock valued at $2,849,632 over the last 90 days. 26.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its position in PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 shares in the last quarter. CenterBook Partners LP grew its stake in shares of PubMatic by 239.0% during the 3rd quarter. CenterBook Partners LP now owns 748,460 shares of the company’s stock worth $6,197,000 after purchasing an additional 527,650 shares during the period. Simcoe Capital LLC purchased a new position in shares of PubMatic during the 4th quarter valued at approximately $3,625,000. UBS Group AG increased its holdings in shares of PubMatic by 254.7% during the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock valued at $3,499,000 after purchasing an additional 303,479 shares in the last quarter. Finally, Roubaix Capital LLC acquired a new position in shares of PubMatic in the 3rd quarter valued at $2,247,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Company Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.