Analysts Set PubMatic, Inc. (NASDAQ:PUBM) PT at $21.00

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $21.00.

Several equities analysts have recently weighed in on PUBM shares. Macquarie reduced their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Wolfe Research assumed coverage on shares of PubMatic in a report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 target price on the stock. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. B. Riley decreased their price objective on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Royal Bank of Canada reduced their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday.

PubMatic Stock Up 4.1 %

Shares of PUBM stock opened at $15.95 on Wednesday. The firm has a market cap of $796.40 million, a P/E ratio of 75.95 and a beta of 1.44. The company has a 50 day moving average of $19.37 and a 200-day moving average of $20.71. PubMatic has a 12-month low of $10.92 and a 12-month high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) earnings per share. As a group, equities analysts expect that PubMatic will post 0.24 EPS for the current year.

Insider Transactions at PubMatic

In related news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $191,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Amar K. Goel sold 2,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $24.50, for a total transaction of $49,000.00. Following the transaction, the chairman now directly owns 2,640 shares in the company, valued at approximately $64,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm’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 transaction, the chief executive officer now directly owns 9,000 shares in the company, valued at $191,520. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,551 shares of company stock valued at $2,432,679. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Redwood Wealth Management Group LLC purchased a new stake in shares of PubMatic in the 2nd quarter valued at $29,000. Price T Rowe Associates Inc. MD boosted its position in PubMatic by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock valued at $530,000 after buying an additional 1,561 shares during the period. Empowered Funds LLC grew its stake in shares of PubMatic by 9.1% during the first quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock valued at $465,000 after buying an additional 1,632 shares during the last quarter. Versor Investments LP increased its holdings in shares of PubMatic by 8.2% in the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock worth $451,000 after buying an additional 1,677 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of PubMatic in the 2nd quarter valued at about $38,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

About PubMatic

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.