Brokerages Set PubMatic, Inc. (NASDAQ:PUBM) Price Target at $21.00

PubMatic, Inc. (NASDAQ:PUBM) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $21.00.

PUBM has been the topic of several research reports. Wolfe Research initiated coverage on shares of PubMatic in a report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price objective on the stock. B. Riley dropped their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Raymond James downgraded shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada dropped their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Finally, Jefferies Financial Group lowered their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, August 9th.

Insider Buying and Selling at PubMatic

In other PubMatic news, General Counsel Andrew Woods sold 2,710 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total value of $41,463.00. Following the transaction, the general counsel now directly owns 26,739 shares in the company, valued at $409,106.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other PubMatic news, insider Mukul Kumar sold 8,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $21.85, for a total value of $174,800.00. Following the transaction, the insider now directly owns 37,784 shares in the company, valued at $825,580.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Andrew Woods sold 2,710 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the transaction, the general counsel now owns 26,739 shares in the company, valued at $409,106.70. The disclosure for this sale can be found here. Insiders have sold a total of 119,062 shares of company stock worth $2,182,046 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC acquired a new position in shares of PubMatic during the second quarter worth approximately $29,000. Price T Rowe Associates Inc. MD lifted its position in shares of PubMatic by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock worth $530,000 after purchasing an additional 1,561 shares in the last quarter. Empowered Funds LLC lifted its position in shares of PubMatic by 9.1% during the first quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock worth $465,000 after purchasing an additional 1,632 shares in the last quarter. Versor Investments LP lifted its position in shares of PubMatic by 8.2% during the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock worth $451,000 after purchasing an additional 1,677 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of PubMatic during the second quarter worth approximately $38,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

PubMatic Price Performance

Shares of PUBM opened at $14.68 on Friday. The company has a market capitalization of $727.83 million, a PE ratio of 69.91 and a beta of 1.40. PubMatic has a one year low of $10.92 and a one year high of $25.36. The company’s fifty day moving average price is $17.38 and its 200 day moving average price is $20.48.

PubMatic (NASDAQ:PUBM) last announced 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 net margin of 7.08% and a return on equity of 6.92%. The firm had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. During the same quarter last year, the firm posted ($0.11) EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts anticipate that PubMatic will post 0.2 earnings per share for the current year.

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.