PubMatic, Inc. (NASDAQ:PUBM) Given Average Recommendation of “Moderate Buy” by Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.20.

PUBM has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price target on shares of PubMatic in a report on Monday, March 25th. JMP Securities lifted their target price on PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 27th. Finally, B. Riley began coverage on PubMatic in a research note on Friday. They set a “buy” rating and a $27.00 price target on the stock.

PubMatic Price Performance

NASDAQ PUBM opened at $22.17 on Thursday. The company’s fifty day moving average is $21.18 and its two-hundred day moving average is $17.11. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 147.80 and a beta of 1.52. PubMatic has a 52-week low of $10.92 and a 52-week 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, beating analysts’ consensus estimates of $0.19 by $0.15. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The company had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $78.19 million. During the same quarter in the prior year, the company posted $0.24 EPS. The business’s revenue was up 13.9% on a year-over-year basis. As a group, sell-side analysts expect that PubMatic will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Amar K. Goel sold 3,770 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $23.71, for a total transaction of $89,386.70. Following the completion of the sale, the chairman now owns 2,640 shares of the company’s stock, valued at $62,594.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PubMatic news, General Counsel Andrew Woods sold 3,220 shares of PubMatic stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.16, for a total value of $74,575.20. Following the sale, the general counsel now directly owns 21,153 shares in the company, valued at approximately $489,903.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Amar K. Goel sold 3,770 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $23.71, for a total transaction of $89,386.70. Following the sale, the chairman now directly owns 2,640 shares in the company, valued at $62,594.40. The disclosure for this sale can be found here. Insiders sold 184,563 shares of company stock worth $3,940,568 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PubMatic

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new position in PubMatic during the third quarter worth $3,701,000. Dimensional Fund Advisors LP increased its holdings in PubMatic by 17.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after buying an additional 228,190 shares during the period. Aptus Capital Advisors LLC bought a new position in PubMatic in the 3rd quarter valued at about $1,350,000. Panagora Asset Management Inc. raised its position in shares of PubMatic by 139.3% in the 4th quarter. Panagora Asset Management Inc. now owns 150,219 shares of the company’s stock valued at $2,450,000 after buying an additional 87,435 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of PubMatic during the 1st quarter worth approximately $1,412,000. Institutional investors own 64.26% of the company’s stock.

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.