PubMatic (NASDAQ:PUBM) Reaches New 1-Year High – Should You Buy?

Shares of PubMatic, Inc. (NASDAQ:PUBM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $19.19 and last traded at $17.7760, with a volume of 266868 shares. The stock had previously closed at $16.85.

Analysts Set New Price Targets

Several brokerages have commented on PUBM. Rosenblatt Securities upped their price objective on PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Raymond James Financial raised shares of PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, August 7th. Citigroup restated an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. Scotiabank upgraded shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. Finally, Lake Street Capital restated a “buy” rating and issued a $20.00 target price on shares of PubMatic in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

PubMatic Stock Performance

The company’s fifty day simple moving average is $15.27 and its 200-day simple moving average is $11.89. The company has a market capitalization of $794.44 million, a P/E ratio of -58.09 and a beta of 1.58.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The business had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. On average, sell-side analysts predict that PubMatic, Inc. will post -0.09 EPS for the current year.

Insider Buying and Selling

In other PubMatic news, General Counsel Andrew Woods sold 38,331 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $17.96, for a total transaction of $688,424.76. Following the sale, the general counsel owned 39,761 shares of the company’s stock, valued at approximately $714,107.56. This trade represents a 49.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajeev K. Goel sold 211,302 shares of PubMatic stock in a transaction on Friday, August 7th. The shares were sold at an average price of $17.74, for a total value of $3,748,497.48. Following the completion of the transaction, the chief executive officer owned 31,692 shares in the company, valued at $562,216.08. This represents a 86.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 538,626 shares of company stock valued at $8,664,396 over the last 90 days. Corporate insiders own 27.78% of the company’s stock.

Institutional Trading of PubMatic

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its stake in shares of PubMatic by 75.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after acquiring an additional 1,915 shares in the last quarter. State of Wyoming purchased a new stake in shares of PubMatic during the 1st quarter valued at $61,000. Savant Capital LLC acquired a new stake in shares of PubMatic in the 4th quarter worth $110,000. Sei Investments Co. acquired a new stake in shares of PubMatic in the 1st quarter worth $129,000. Finally, Versant Capital Management Inc increased its position in PubMatic by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after buying an additional 2,482 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors.

PubMatic Company Profile

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.