PubMatic, Inc. (NASDAQ:PUBM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $19.89.

Several research analysts have recently commented on PUBM shares. Scotiabank decreased their target price on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report 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 lowered their target price on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 28th. JMP Securities restated a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th.

PubMatic Trading Down 2.3 %

PubMatic stock opened at $9.77 on Friday. The stock has a 50 day moving average of $14.51 and a 200-day moving average of $15.03. The stock has a market cap of $466.68 million, a P/E ratio of 31.52 and a beta of 1.48. PubMatic has a 52 week low of $9.69 and a 52 week high of $25.36.

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

Insider Buying and Selling at PubMatic

In related news, CEO Rajeev K. Goel sold 24,891 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $376,849.74. Following the completion of the sale, the chief executive officer now owns 5,896 shares of the company’s stock, valued at $89,265.44. This represents a 80.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $16.52, for a total transaction of $115,640.00. Following the transaction, the insider now directly owns 44,888 shares in the company, valued at approximately $741,549.76. The trade was a 13.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,811 shares of company stock valued at $1,554,021 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in PubMatic during the fourth quarter worth approximately $27,000. Cubist Systematic Strategies LLC bought a new stake in shares of PubMatic in the 4th quarter worth $29,000. New York State Teachers Retirement System acquired a new stake in shares of PubMatic in the third quarter valued at $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PubMatic in the fourth quarter valued at $57,000. Finally, FMR LLC boosted its stake in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after buying an additional 2,709 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors.

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.