PubMatic (NASDAQ:PUBM) Hits New 12-Month High – Still a Buy?

PubMatic, Inc. (NASDAQ:PUBM) shares hit a new 52-week high on Thursday . The stock traded as high as $14.04 and last traded at $13.79, with a volume of 52236 shares traded. The stock had previously closed at $13.80.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PUBM. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of PubMatic in a research report on Thursday, April 23rd. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Royal Bank Of Canada boosted their target price on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.88.

PubMatic Stock Performance

The stock has a market capitalization of $591.18 million, a PE ratio of -33.50 and a beta of 1.51. The stock’s 50 day moving average is $11.74 and its two-hundred day moving average is $9.42.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $62.57 million during the quarter, compared to analysts’ expectations of $60.42 million. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%. Equities research analysts expect that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Insider Transactions at PubMatic

In other PubMatic news, CFO Steven Pantelick sold 23,548 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total transaction of $321,430.20. Following the transaction, the chief financial officer owned 64,820 shares of the company’s stock, valued at approximately $884,793. The trade was a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mukul Kumar sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $11.96, for a total transaction of $95,680.00. Following the transaction, the insider directly owned 100,869 shares in the company, valued at approximately $1,206,393.24. The trade was a 7.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 318,305 shares of company stock valued at $3,807,773. Corporate insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in PubMatic by 26.3% during the first 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. Wellington Management Group LLP lifted its holdings in shares of PubMatic by 10.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock worth $12,159,000 after acquiring an additional 135,070 shares during the last quarter. CenterBook Partners LP lifted its holdings in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after acquiring an additional 398,595 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of PubMatic by 9.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after purchasing an additional 77,566 shares during the period. Finally, Millennium Management LLC boosted its position in shares of PubMatic by 320.0% during the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.