Rosenblatt Securities Reiterates “Buy” Rating for PubMatic (NASDAQ:PUBM)

PubMatic (NASDAQ:PUBM)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a research note issued on Friday,Benzinga reports. They presently have a $21.00 target price on the stock. Rosenblatt Securities’ price target points to a potential upside of 162.83% from the company’s current price.

A number of other research firms also recently issued reports on PUBM. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Lake Street Capital upgraded shares of PubMatic from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wolfe Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of PubMatic in a research report on Monday, January 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research note on Thursday, January 22nd. Finally, B. Riley Financial raised shares of PubMatic from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $10.50 in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, PubMatic currently has an average rating of “Moderate Buy” and a consensus target price of $12.63.

PubMatic Price Performance

NASDAQ:PUBM opened at $7.99 on Friday. The stock has a market cap of $370.90 million, a P/E ratio of -25.77 and a beta of 1.46. The company has a fifty day moving average price of $7.49 and a 200 day moving average price of $8.24. PubMatic has a one year low of $6.15 and a one year high of $13.88.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, February 26th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The business had revenue of $80.05 million for the quarter, compared to analyst estimates of $76.12 million. PubMatic had a negative return on equity of 5.64% and a negative net margin of 5.11%. As a group, equities research analysts anticipate that PubMatic will post 0.22 EPS for the current year.

Insider Activity

In related news, CEO Rajeev K. Goel sold 44,000 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $8.72, for a total transaction of $383,680.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Amar K. Goel sold 7,158 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $8.73, for a total transaction of $62,489.34. Following the sale, the chairman directly owned 12,496 shares in the company, valued at $109,090.08. This trade represents a 36.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 431,650 shares of company stock valued at $3,421,255. 26.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of PubMatic by 10.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after purchasing an additional 135,070 shares during the period. CenterBook Partners LP increased its position in PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after buying an additional 398,595 shares during the last quarter. Geode Capital Management LLC increased its position in PubMatic by 5.3% during the second quarter. Geode Capital Management LLC now owns 985,948 shares of the company’s stock worth $12,267,000 after buying an additional 49,209 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in PubMatic by 9.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after buying an additional 77,566 shares during the period. Finally, Millennium Management LLC raised its stake in PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after buying an additional 699,549 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

About PubMatic

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.