PubMatic, Inc. (NASDAQ:PUBM) Stock Has Consensus Target Price of $19.73

Shares of PubMatic, Inc. (NASDAQ:PUBM) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $19.73.

A number of research firms recently weighed in on PUBM. Evercore restated an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a research report on Monday, August 10th. Scotiabank upgraded shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $8.00 to $21.00 in a research report on Friday, August 7th. Wall Street Zen raised shares of PubMatic from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Jefferies Financial Group boosted their price objective on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Finally, Citizens Jmp upped their price objective on shares of PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th.

PubMatic Stock Performance

Shares of NASDAQ:PUBM opened at $18.64 on Monday. The firm has a market capitalization of $849.05 million, a PE ratio of -62.13 and a beta of 1.56. PubMatic has a 52-week low of $6.15 and a 52-week high of $19.48. The firm has a fifty day moving average of $17.05 and a 200 day moving average of $13.05.

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

Insiders Place Their Bets

In other news, insider Mukul Kumar sold 7,878 shares of PubMatic stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $18.97, for a total value of $149,445.66. Following the transaction, the insider owned 125,041 shares in the company, valued at approximately $2,372,027.77. The trade was a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Rajeev K. Goel sold 50,233 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $18.97, for a total value of $952,920.01. Following the completion of the sale, the chief executive officer directly owned 47,424 shares of the company’s stock, valued at approximately $899,633.28. This trade represents a 51.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 602,909 shares of company stock valued at $10,527,490 over the last three months. 27.78% of the stock is currently owned by company insiders.

Institutional Trading of PubMatic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its holdings in PubMatic by 75.6% during the 4th 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. Versant Capital Management Inc grew its holdings in PubMatic by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock worth $140,000 after acquiring an additional 2,482 shares during the last quarter. Diversified Trust Co increased its position in shares of PubMatic by 20.8% in the first quarter. Diversified Trust Co now owns 17,564 shares of the company’s stock valued at $144,000 after acquiring an additional 3,022 shares during the period. WINTON GROUP Ltd raised its stake in shares of PubMatic by 28.0% during the second quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of PubMatic by 12.2% during the fourth quarter. Hsbc Holdings PLC now owns 64,590 shares of the company’s stock valued at $573,000 after acquiring an additional 7,034 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company’s platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.