PubMatic (NASDAQ:PUBM) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

PubMatic (NASDAQ:PUBM) had its price target hoisted by investment analysts at Rosenblatt Securities from $23.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities‘s price target would suggest a potential upside of 31.37% from the stock’s current price.

Several other research firms have also recently weighed in on PUBM. Raymond James Financial raised shares of PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, August 7th. Citigroup reissued an “outperform” rating on shares of PubMatic in a research note on Friday, August 7th. B. Riley Financial boosted their target price on PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Wall Street Zen lowered PubMatic from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Finally, Craig Hallum began coverage on PubMatic in a report on Thursday, September 24th. They issued a “buy” rating and a $24.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.91.

PubMatic Stock Up 6.9%

Shares of NASDAQ PUBM opened at $19.03 on Tuesday. PubMatic has a 52 week low of $6.15 and a 52 week high of $19.48. The business has a 50-day simple moving average of $17.43 and a two-hundred day simple moving average of $12.36. The company has a market cap of $866.82 million, a P/E ratio of -63.43 and a beta of 1.59.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Monday, November 9th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.27. The business had revenue of $79.58 million during the quarter, compared to analyst estimates of $76.09 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. Equities research analysts anticipate that PubMatic will post -0.09 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Amar Goel sold 10,795 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $18.66, for a total value of $201,434.70. Following the completion of the sale, the chairman owned 35,580 shares of the company’s stock, valued at approximately $663,922.80. The trade was a 23.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven Pantelick sold 23,491 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $18.97, for a total value of $445,624.27. Following the completion of the sale, the chief financial officer directly owned 32,526 shares of the company’s stock, valued at approximately $617,018.22. This trade represents a 41.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 361,818 shares of company stock worth $6,481,715 in the last ninety days. Corporate insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Avestar Capital LLC raised its stake in shares of PubMatic by 250.3% during the third quarter. Avestar Capital LLC now owns 192,688 shares of the company’s stock valued at $3,609,000 after acquiring an additional 137,688 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of PubMatic by 86.1% during the third quarter. Russell Investments Group Ltd. now owns 155,596 shares of the company’s stock worth $2,915,000 after purchasing an additional 71,968 shares during the period. Pinnacle Holdings LLC purchased a new stake in shares of PubMatic during the second quarter worth about $2,076,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of PubMatic by 248.0% during the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock worth $1,692,000 after purchasing an additional 147,386 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Key Stories Impacting PubMatic

Here are the key news stories impacting PubMatic this week:

• Positive Sentiment: PubMatic reported Q3 revenue of $79.58 million, above the $76.09 million analyst estimate, and earnings of $0.25 per share, beating the Zacks consensus of $0.17. The company said revenue growth accelerated for a third consecutive quarter and adjusted EBITDA more than doubled year over year, with both revenue and adjusted EBITDA ahead of its guidance. PubMatic Q3 results
• Positive Sentiment: For Q4, the company forecast revenue of $91 million to $93 million; its full-year outlook was also reported as slightly above expectations. The outlook signals continued growth and could support investor confidence. PubMatic Q4 forecast
• Positive Sentiment: PubMatic authorized a $150 million share buyback, which may signal management confidence and provide support for shareholder returns. The authorization does not guarantee that the full amount will be repurchased. PubMatic buyback
• Neutral Sentiment: The company raised its full-year capital-expenditure forecast to $24 million–$28 million. Investment could support growth, but the higher spending may weigh on near-term cash flow. PubMatic forecast and capital spending

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.