PubMatic (NASDAQ:PUBM) Earns “Market Outperform” Rating from JMP Securities

PubMatic (NASDAQ:PUBM)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a report issued on Monday,Benzinga reports. They presently have a $20.00 target price on the stock. JMP Securities’ price target suggests a potential upside of 32.08% from the stock’s current price.

A number of other equities analysts have also commented on PUBM. Scotiabank initiated coverage on PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective on the stock. Royal Bank of Canada decreased their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Evercore ISI upped their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Macquarie reissued a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

PubMatic Trading Up 1.1 %

NASDAQ PUBM traded up $0.17 during trading on Monday, reaching $15.14. The company’s stock had a trading volume of 147,899 shares, compared to its average volume of 289,464. The firm has a 50 day moving average price of $15.45 and a 200 day moving average price of $16.00. PubMatic has a 12 month low of $13.18 and a 12 month high of $25.36. The firm has a market capitalization of $723.33 million, a price-to-earnings ratio of 48.98 and a beta of 1.41.

Insider Activity at PubMatic

In other news, General Counsel Andrew Woods sold 3,529 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the completion of the transaction, the general counsel now owns 34,702 shares of the company’s stock, valued at $514,977.68. This represents a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Amar K. Goel sold 4,087 shares of PubMatic stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $60,651.08. Following the sale, the chairman now owns 14,044 shares in the company, valued at approximately $208,412.96. This represents a 22.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,190 shares of company stock valued at $1,956,331. 2.90% of the stock is owned by insiders.

Institutional Trading of PubMatic

Several institutional investors have recently modified their holdings of PUBM. Leibman Financial Services Inc. lifted its holdings in PubMatic by 17.0% during the 4th quarter. Leibman Financial Services Inc. now owns 56,690 shares of the company’s stock worth $833,000 after buying an additional 8,231 shares during the period. Nordea Investment Management AB lifted its stake in shares of PubMatic by 377.4% in the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after acquiring an additional 269,217 shares during the period. JPMorgan Chase & Co. boosted its holdings in PubMatic by 239.3% in the third quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock valued at $927,000 after acquiring an additional 43,971 shares during the last quarter. Franklin Resources Inc. acquired a new stake in PubMatic during the 3rd quarter valued at approximately $941,000. Finally, Virtu Financial LLC bought a new position in PubMatic during the 3rd quarter worth approximately $240,000. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

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.