PubMatic (NASDAQ:PUBM) Stock Price Up 5.4% – Time to Buy?

PubMatic, Inc. (NASDAQ:PUBM)’s share price traded up 5.4% during mid-day trading on Friday . The company traded as high as $17.33 and last traded at $17.24. 94,051 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 684,954 shares. The stock had previously closed at $16.35.

Analysts Set New Price Targets

PUBM has been the topic of several recent research reports. Raymond James Financial raised shares of PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Friday, August 7th. Lake Street Capital restated a “buy” rating and set a $20.00 price target on shares of PubMatic in a research report on Friday, August 7th. Jefferies Financial Group upped their price objective on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a report on Friday, August 7th. Finally, Citizens Jmp raised their target price on shares of PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

PubMatic Trading Up 5.4%

The business has a fifty day moving average price of $14.16 and a two-hundred day moving average price of $10.90. The firm has a market capitalization of $784.83 million, a PE ratio of -57.43 and a beta of 1.54.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The company had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. On average, equities analysts forecast that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other PubMatic news, CFO Steven Pantelick sold 19,716 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $17.31, for a total value of $341,283.96. Following the sale, the chief financial officer directly owned 10,353 shares in the company, valued at $179,210.43. This trade represents a 65.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajeev K. Goel sold 49,980 shares of the business’s stock in a transaction that occurred 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. The trade was a 75.66% 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. Insiders sold a total of 627,453 shares of company stock valued at $9,638,866 in the last 90 days. Company 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. Quarry LP purchased a new position in PubMatic during the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after buying an additional 1,915 shares during the last quarter. State of Wyoming purchased a new stake in shares of PubMatic in the first quarter valued at about $61,000. Tower Research Capital LLC TRC boosted its stake in shares of PubMatic by 264.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock worth $61,000 after buying an additional 3,541 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of PubMatic by 120.8% during the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after buying an additional 4,856 shares during the last quarter. 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.