PubMatic, Inc. (NASDAQ:PUBM) Stock Has Consensus Target Price of $19.73 According to Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.73.

PUBM has been the topic of several research reports. Raymond James Financial upgraded shares of PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Friday, August 7th. Wall Street Zen lowered shares of PubMatic from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Scotiabank raised shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $8.00 to $21.00 in a report on Friday, August 7th. Lake Street Capital restated a “buy” rating and set a $20.00 price objective on shares of PubMatic in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th.

PubMatic Stock Up 3.7%

Shares of NASDAQ PUBM opened at $16.15 on Friday. The business’s 50 day moving average price is $17.35 and its two-hundred day moving average price is $12.16. The company has a market cap of $735.63 million, a PE ratio of -53.83 and a beta of 1.59. PubMatic has a twelve month low of $6.15 and a twelve month high of $19.48.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The company had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. As a group, research analysts anticipate that PubMatic will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at PubMatic

In other news, CFO Steven Pantelick sold 23,491 shares of PubMatic stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $18.97, for a total transaction of $445,624.27. Following the completion of the sale, the chief financial officer owned 32,526 shares of the company’s stock, valued at approximately $617,018.22. This trade represents a 41.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Andrew Woods sold 38,331 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76. Following the completion of the sale, the general counsel directly owned 39,761 shares of the company’s stock, valued at approximately $714,107.56. The trade was a 49.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 611,451 shares of company stock valued at $10,918,637 in the last ninety days. 27.78% of the stock is currently owned by corporate insiders.

Institutional Trading of PubMatic

A number of institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in PubMatic during the 3rd quarter worth $39,000. State of Wyoming bought a new stake in shares of PubMatic during the 1st quarter valued at $61,000. Versant Capital Management Inc lifted its position in shares of 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 acquiring an additional 2,482 shares during the period. Sei Investments Co. acquired a new stake in shares of PubMatic during the 1st quarter worth $129,000. Finally, WINTON GROUP Ltd increased its position in shares of PubMatic by 28.0% in the second quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock worth $222,000 after purchasing an additional 3,700 shares during the period. Institutional investors own 64.26% of the company’s stock.

About PubMatic

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.

The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.