Rosenblatt Securities Reaffirms Buy Rating for PubMatic (NASDAQ:PUBM)

PubMatic (NASDAQ:PUBM)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a research note issued on Friday,Benzinga reports. They currently have a $21.00 target price on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 160.22% from the stock’s previous close.

Several other brokerages have also recently commented on PUBM. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research note on Thursday, January 22nd. B. Riley Financial upgraded PubMatic from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.00 to $10.50 in a research note on Friday, February 27th. Wolfe Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of PubMatic in a report on Monday, January 5th. Finally, Lake Street Capital raised PubMatic from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued 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, PubMatic has an average rating of “Moderate Buy” and an average target price of $12.63.

PubMatic Stock Performance

NASDAQ:PUBM opened at $8.07 on Friday. The company has a market cap of $374.61 million, a price-to-earnings ratio of -26.03 and a beta of 1.46. PubMatic has a fifty-two week low of $6.15 and a fifty-two week high of $13.88. The stock has a fifty day moving average price of $7.49 and a 200-day moving average price of $8.25.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.13. PubMatic had a negative return on equity of 5.64% and a negative net margin of 5.11%.The company had revenue of $80.05 million for the quarter, compared to analysts’ expectations of $76.12 million. Research analysts predict that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, CEO Rajeev K. Goel sold 44,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $8.72, for a total value of $383,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Pantelick sold 18,398 shares of PubMatic stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $8.81, for a total transaction of $162,086.38. Following the sale, the chief financial officer owned 28,685 shares in the company, valued at approximately $252,714.85. This represents a 39.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 431,650 shares of company stock valued at $3,421,255. 26.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PubMatic

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its holdings in shares of PubMatic by 75.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after purchasing an additional 1,915 shares during the period. Invesco Ltd. increased its holdings in PubMatic by 20.0% in the fourth quarter. Invesco Ltd. now owns 105,509 shares of the company’s stock valued at $936,000 after purchasing an additional 17,581 shares during the period. XTX Topco Ltd bought a new position in PubMatic during the 4th quarter worth $199,000. Tudor Investment Corp ET AL bought a new stake in shares of PubMatic in the 4th quarter valued at about $893,000. Finally, Millennium Management LLC grew its position in shares of PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after buying an additional 699,549 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.