PubMatic (NASDAQ:PUBM) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of PubMatic (NASDAQ:PUBM) in a research report released on Monday, Benzinga reports. The brokerage currently has a $26.00 price objective on the stock.

Other analysts also recently issued research reports about the company. B. Riley lifted their price target on PubMatic from $21.00 to $27.00 and gave the company a buy rating in a research report on Tuesday, February 27th. JMP Securities raised their price objective on PubMatic from $18.00 to $25.00 and gave the company a market outperform rating in a report on Tuesday, February 27th. Finally, TheStreet raised PubMatic from a d rating to a c- rating in a report on Friday, December 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $22.20.

PubMatic Stock Down 1.5 %

Shares of PUBM opened at $23.26 on Monday. PubMatic has a twelve month low of $10.92 and a twelve month high of $24.06. The stock has a market cap of $1.16 billion, a PE ratio of 155.08 and a beta of 1.50. The business’s 50-day moving average price is $18.44 and its 200-day moving average price is $15.72.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.15. The business had revenue of $84.60 million for the quarter, compared to analyst estimates of $78.19 million. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. PubMatic’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. Analysts expect that PubMatic will post 0.17 earnings per share for the current fiscal year.

Insider Activity at PubMatic

In related news, CEO Rajeev K. Goel sold 13,673 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $15.96, for a total transaction of $218,221.08. Following the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at approximately $1,390,131.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Rajeev K. Goel sold 98,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total transaction of $2,041,020.00. Following the transaction, the chief executive officer now directly owns 7,500 shares in the company, valued at approximately $155,250. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Rajeev K. Goel sold 13,673 shares of PubMatic stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $15.96, for a total value of $218,221.08. Following the completion of the sale, the chief executive officer now owns 87,101 shares in the company, valued at $1,390,131.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,153 shares of company stock valued at $3,312,918. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PubMatic

A number of large investors have recently made changes to their positions in PUBM. Advisor Group Holdings Inc. grew its position in shares of PubMatic by 78.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 10,383 shares of the company’s stock worth $271,000 after buying an additional 4,575 shares during the last quarter. Raymond James & Associates grew its position in shares of PubMatic by 56.1% in the 1st quarter. Raymond James & Associates now owns 53,311 shares of the company’s stock worth $1,392,000 after buying an additional 19,153 shares during the last quarter. Citigroup Inc. grew its position in shares of PubMatic by 39.9% in the 1st quarter. Citigroup Inc. now owns 6,605 shares of the company’s stock worth $173,000 after buying an additional 1,883 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of PubMatic in the 1st quarter worth approximately $1,682,000. Finally, Acadian Asset Management LLC grew its position in shares of PubMatic by 78.4% in the 1st quarter. Acadian Asset Management LLC now owns 15,160 shares of the company’s stock worth $393,000 after buying an additional 6,660 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

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.