Analysts Set PubMatic, Inc. (NASDAQ:PUBM) Price Target at $23.00

PubMatic, Inc. (NASDAQ:PUBM) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.00.

Several analysts have commented on PUBM shares. B. Riley started coverage on shares of PubMatic in a research note on Friday, April 19th. They issued a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th.

PubMatic Stock Performance

PUBM opened at $20.67 on Tuesday. PubMatic has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The firm’s fifty day moving average is $21.93 and its 200 day moving average is $19.90. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 98.43 and a beta of 1.44.

PubMatic (NASDAQ:PUBM) last released its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. PubMatic had a net margin of 4.42% and a return on equity of 4.21%. The company had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $62.19 million. During the same quarter in the previous year, the company earned ($0.09) EPS. PubMatic’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts predict that PubMatic will post 0.24 earnings per share for the current year.

Insider Transactions at PubMatic

In other news, Chairman Amar K. Goel sold 3,755 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $20.64, for a total value of $77,503.20. Following the sale, the chairman now directly owns 5,242 shares in the company, valued at approximately $108,194.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $21.28, for a total value of $532,000.00. Following the sale, the chief executive officer now directly owns 9,000 shares in the company, valued at approximately $191,520. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Amar K. Goel sold 3,755 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $20.64, for a total transaction of $77,503.20. Following the transaction, the chairman now owns 5,242 shares in the company, valued at $108,194.88. The disclosure for this sale can be found here. Insiders have sold a total of 114,371 shares of company stock worth $2,460,434 in the last three months. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its holdings in PubMatic by 92.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock valued at $10,440,000 after purchasing an additional 211,520 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in PubMatic by 149.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 29,207 shares of the company’s stock worth $693,000 after acquiring an additional 17,507 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in PubMatic by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock worth $530,000 after acquiring an additional 1,561 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in PubMatic in the 1st quarter worth about $4,711,000. Finally, Vanguard Group Inc. grew its stake in PubMatic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock worth $100,914,000 after acquiring an additional 22,713 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors.

PubMatic Company Profile

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.