PubMatic, Inc. (NASDAQ:PUBM) Receives $21.00 Consensus Target Price from Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has been given an average rating of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

PUBM has been the subject of several analyst reports. Jefferies Financial Group lowered their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada lowered their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Macquarie lowered their price objective on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Wolfe Research started coverage on PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price objective for the company.

Insider Activity

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total transaction of $381,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total transaction of $381,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lisa Gimbel sold 2,397 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.66, for a total value of $32,743.02. Following the sale, the chief accounting officer now directly owns 3,956 shares of the company’s stock, valued at $54,038.96. The disclosure for this sale can be found here. In the last three months, insiders sold 119,062 shares of company stock valued at $2,182,046. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. acquired a new position in PubMatic during the 2nd quarter worth approximately $839,000. Truist Financial Corp acquired a new position in PubMatic during the 2nd quarter worth approximately $380,000. Algert Global LLC increased its position in PubMatic by 19.0% during the 2nd quarter. Algert Global LLC now owns 171,125 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,272 shares during the period. Millennium Management LLC acquired a new position in PubMatic during the 2nd quarter worth approximately $6,582,000. Finally, Cubist Systematic Strategies LLC increased its position in PubMatic by 54.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 264,988 shares of the company’s stock worth $5,382,000 after purchasing an additional 93,327 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Price Performance

PUBM opened at $14.61 on Friday. PubMatic has a 12 month low of $10.92 and a 12 month high of $25.36. The stock has a market capitalization of $724.36 million, a price-to-earnings ratio of 69.57 and a beta of 1.40. The business has a fifty day moving average price of $17.49 and a 200 day moving average price of $20.52.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The firm had revenue of $67.27 million during the quarter, compared to analysts’ expectations of $70.07 million. During the same period in the previous year, the firm posted ($0.11) EPS. PubMatic’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts anticipate that PubMatic will post 0.2 earnings per share for the current year.

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.