PubMatic (NASDAQ:PUBM) Coverage Initiated by Analysts at B. Riley

B. Riley assumed coverage on shares of PubMatic (NASDAQ:PUBM) in a research report released on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $27.00 target price on the stock. B. Riley also issued estimates for PubMatic’s Q2 2024 earnings at ($0.03) EPS and Q3 2024 earnings at ($0.03) EPS.

A number of other research firms also recently weighed in on PUBM. JMP Securities raised their price target on PubMatic from $18.00 to $25.00 and gave the stock a market outperform rating in a research note on Tuesday, February 27th. Royal Bank of Canada reaffirmed an outperform rating and set a $26.00 price target on shares of PubMatic in a research note on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $22.20.

PubMatic Trading Up 0.3 %

Shares of PubMatic stock opened at $21.61 on Friday. The stock has a 50-day moving average price of $21.05 and a 200 day moving average price of $16.97. The company has a market cap of $1.08 billion, a P/E ratio of 144.08 and a beta of 1.52. PubMatic has a 1 year low of $10.92 and a 1 year high of $24.18.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.15. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The firm had revenue of $84.60 million during the quarter, compared to the consensus estimate of $78.19 million. During the same period in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts forecast that PubMatic will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Rajeev K. Goel sold 98,600 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total transaction of $2,041,020.00. Following the transaction, the chief executive officer now owns 7,500 shares of the company’s stock, valued at approximately $155,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Rajeev K. Goel sold 98,600 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total transaction of $2,041,020.00. Following the transaction, the chief executive officer now owns 7,500 shares of the company’s stock, valued at approximately $155,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.64, for a total value of $151,480.00. Following the completion of the sale, the insider now directly owns 30,958 shares in the company, valued at approximately $669,931.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,563 shares of company stock valued at $3,940,568. Insiders own 2.00% of the company’s stock.

Institutional Trading of PubMatic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jasper Ridge Partners L.P. grew its holdings in PubMatic by 3.6% in the 1st quarter. Jasper Ridge Partners L.P. now owns 15,032 shares of the company’s stock valued at $393,000 after buying an additional 524 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in PubMatic by 4.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,750 shares of the company’s stock valued at $339,000 after buying an additional 808 shares during the last quarter. Verition Fund Management LLC grew its holdings in PubMatic by 7.6% in the 2nd quarter. Verition Fund Management LLC now owns 11,554 shares of the company’s stock valued at $184,000 after buying an additional 819 shares during the last quarter. Snowden Capital Advisors LLC grew its holdings in PubMatic by 3.4% in the 1st quarter. Snowden Capital Advisors LLC now owns 26,002 shares of the company’s stock valued at $359,000 after buying an additional 850 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in PubMatic by 9.0% in the 4th quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock valued at $194,000 after buying an additional 984 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.