PubMatic, Inc. (NASDAQ:PUBM) Receives $21.00 Average Price Target from Analysts

PubMatic, Inc. (NASDAQ:PUBM) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.00.

A number of equities research analysts recently weighed in on PUBM shares. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Wolfe Research assumed coverage on PubMatic in a report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 target price on the stock. Royal Bank of Canada lowered their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Macquarie lowered their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Jefferies Financial Group lowered their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.08, for a total transaction of $502,000.00. Following the transaction, the chief executive officer now owns 22,711 shares of the company’s stock, valued at approximately $456,036.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.08, for a total transaction of $502,000.00. Following the transaction, the chief executive officer now owns 22,711 shares of the company’s stock, valued at approximately $456,036.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mukul Kumar sold 8,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $21.85, for a total value of $174,800.00. Following the transaction, the insider now directly owns 37,784 shares in the company, valued at approximately $825,580.40. The disclosure for this sale can be found here. Insiders have sold a total of 119,062 shares of company stock valued at $2,182,046 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new position in shares of PubMatic in the 2nd quarter worth $29,000. Headlands Technologies LLC purchased a new position in shares of PubMatic in the 2nd quarter worth $38,000. SG Americas Securities LLC purchased a new position in PubMatic in the first quarter valued at about $107,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PubMatic by 56.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after purchasing an additional 3,280 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in PubMatic in the fourth quarter valued at about $191,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

PubMatic Price Performance

PUBM opened at $14.61 on Friday. The stock has a market cap of $724.36 million, a P/E ratio of 69.57 and a beta of 1.40. The stock’s 50 day simple moving average is $17.49 and its 200 day simple moving average is $20.52. PubMatic has a 1-year low of $10.92 and a 1-year high of $25.36.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $67.27 million for the quarter, compared to analysts’ expectations of $70.07 million. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. Research analysts expect that PubMatic will post 0.2 EPS for the current fiscal year.

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.