PubMatic, Inc. (NASDAQ:PUBM) Receives $19.89 Average Target Price from Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $19.89.

Several research firms have recently weighed in on PUBM. Scotiabank reduced their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada reduced their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Lake Street Capital reduced their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th.

PubMatic Trading Up 4.3 %

Shares of NASDAQ:PUBM opened at $9.48 on Friday. The stock’s 50-day moving average price is $13.98 and its two-hundred day moving average price is $14.82. PubMatic has a 12-month low of $9.07 and a 12-month high of $25.36. The firm has a market cap of $460.04 million, a price-to-earnings ratio of 30.58 and a beta of 1.48.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. As a group, research analysts forecast that PubMatic will post 0.22 earnings per share for the current fiscal year.

Insider Activity at PubMatic

In other PubMatic news, General Counsel Andrew Woods sold 3,529 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 $52,370.36. Following the sale, the general counsel now directly owns 34,702 shares in the company, valued at $514,977.68. The trade was a 9.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $16.52, for a total value of $115,640.00. Following the sale, the insider now owns 44,888 shares in the company, valued at $741,549.76. This represents a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,811 shares of company stock worth $1,554,021. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently bought and sold shares of PUBM. SBI Securities Co. Ltd. acquired a new position in shares of PubMatic in the 4th quarter worth approximately $27,000. Cubist Systematic Strategies LLC acquired a new position in shares of PubMatic in the 4th quarter worth approximately $29,000. New York State Teachers Retirement System acquired a new position in shares of PubMatic in the 3rd quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PubMatic in the 4th quarter worth approximately $57,000. Finally, FMR LLC grew its position in shares of PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares in the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

About PubMatic

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.