PubMatic (NASDAQ:PUBM) Price Target Raised to $21.00 at B. Riley Financial

PubMatic (NASDAQ:PUBM) had its target price upped by B. Riley Financial from $17.00 to $21.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price target would indicate a potential upside of 21.18% from the stock’s previous close.

Several other analysts have also issued reports on PUBM. Raymond James Financial raised PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, August 7th. Scotiabank upgraded shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $8.00 to $21.00 in a research note on Friday, August 7th. Citizens Jmp boosted their price objective on PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Jefferies Financial Group lifted their price objective on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Finally, Lake Street Capital reissued a “buy” rating and set a $20.00 price objective on shares of PubMatic in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and a consensus price target of $19.30.

PubMatic Stock Performance

PUBM stock opened at $17.33 on Friday. PubMatic has a fifty-two week low of $6.15 and a fifty-two week high of $19.19. The company has a market cap of $789.38 million, a price-to-earnings ratio of -57.76 and a beta of 1.58. The business’s 50-day moving average is $15.34 and its two-hundred day moving average is $11.95.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The company had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. Equities analysts predict that PubMatic will post -0.09 earnings per share for the current year.

Insider Activity

In related news, Chairman Amar Goel sold 6,250 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $17.04, for a total transaction of $106,500.00. Following the completion of the transaction, the chairman owned 35,580 shares in the company, valued at $606,283.20. The trade was a 14.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajeev Goel sold 49,980 shares of PubMatic stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.49, for a total value of $824,170.20. Following the sale, the chief executive officer owned 16,083 shares of the company’s stock, valued at approximately $265,208.67. This trade represents a 75.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 538,626 shares of company stock worth $8,664,396 in the last three months. Corporate insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after buying an additional 321,200 shares during the period. CenterBook Partners LP raised its holdings in shares of PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after acquiring an additional 398,595 shares in the last quarter. S Squared Technology LLC lifted its stake in PubMatic by 7.7% in the fourth quarter. S Squared Technology LLC now owns 280,972 shares of the company’s stock worth $2,492,000 after acquiring an additional 20,000 shares during the period. Pinnacle Holdings LLC purchased a new stake in PubMatic in the second quarter worth about $2,076,000. Finally, Quantinno Capital Management LP grew its holdings in PubMatic by 248.0% during the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock worth $1,692,000 after acquiring an additional 147,386 shares in the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

About PubMatic

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.