PubMatic, Inc. (NASDAQ:PUBM) Receives $22.20 Average PT from Brokerages

Shares of PubMatic, Inc. (NASDAQ:PUBM) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $22.20.

Several equities research analysts recently commented on the company. JMP Securities raised their target price on PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 target price on shares of PubMatic in a report on Monday. B. Riley raised their target price on PubMatic from $21.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, TheStreet upgraded PubMatic from a “d” rating to a “c-” rating in a report on Friday, December 8th.

PubMatic Price Performance

PubMatic stock opened at $23.72 on Friday. The stock’s 50-day moving average is $18.62 and its 200-day moving average is $15.77. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 158.13 and a beta of 1.50. PubMatic has a 12 month low of $10.92 and a 12 month high of $24.07.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Monday, February 26th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.19 by $0.15. The business had revenue of $84.60 million for the quarter, compared to the consensus estimate of $78.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The company’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. Research analysts anticipate that PubMatic will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Rajeev K. Goel sold 98,600 shares of PubMatic stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total value of $2,041,020.00. Following the completion of the transaction, the chief executive officer now owns 7,500 shares in the company, valued at approximately $155,250. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Rajeev K. Goel sold 98,600 shares of PubMatic stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total value of $2,041,020.00. Following the completion of the transaction, the chief executive officer now owns 7,500 shares in the company, valued at approximately $155,250. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mukul Kumar sold 3,466 shares of PubMatic stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $15.97, for a total value of $55,352.02. Following the completion of the transaction, the insider now owns 24,582 shares of the company’s stock, valued at approximately $392,574.54. The disclosure for this sale can be found here. Insiders have sold 171,153 shares of company stock worth $3,312,918 in the last three months. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC acquired a new position in PubMatic during the 4th quarter valued at approximately $26,000. Lazard Asset Management LLC acquired a new position in PubMatic during the 2nd quarter valued at approximately $46,000. Guinness Atkinson Asset Management Inc raised its stake in PubMatic by 48.6% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after acquiring an additional 992 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in PubMatic by 225.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock valued at $44,000 after acquiring an additional 2,546 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in PubMatic during the 4th quarter valued at $65,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.