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

PubMatic, Inc. (NASDAQ:PUBM) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $21.00.

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group cut their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Macquarie decreased their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. B. Riley dropped their price objective on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada cut their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th.

PubMatic Trading Down 1.8 %

Shares of NASDAQ PUBM opened at $15.02 on Thursday. PubMatic has a 12 month low of $10.92 and a 12 month high of $25.36. The company has a market capitalization of $749.96 million, a P/E ratio of 71.52 and a beta of 1.39. The stock has a 50 day moving average of $14.81 and a 200-day moving average of $19.39.

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

Insider Activity at PubMatic

In other news, CFO Steven Pantelick sold 12,831 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $183,611.61. Following the sale, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at $322,060.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Steven Pantelick sold 12,831 shares of PubMatic stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $183,611.61. Following the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at approximately $322,060.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction on Monday, August 5th. The stock was sold at an average price of $18.73, for a total transaction of $468,250.00. The disclosure for this sale can be found here. Insiders sold 110,896 shares of company stock valued at $1,731,463 over the last 90 days. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PUBM. Vanguard Group Inc. raised its stake in PubMatic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock worth $100,914,000 after acquiring an additional 22,713 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after purchasing an additional 265,700 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of PubMatic by 92.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the period. Millennium Management LLC purchased a new position in PubMatic in the 2nd quarter valued at $6,582,000. Finally, Wellington Management Group LLP increased its stake in PubMatic by 5.7% in the 4th quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock valued at $5,275,000 after buying an additional 17,497 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

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.