Brokerages Set PubMatic, Inc. (NASDAQ:PUBM) Price Target at $21.00

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $21.67.

Several brokerages have weighed in on PUBM. B. Riley decreased their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada reduced their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Macquarie reduced their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Wolfe Research began coverage on shares of PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 target price on the stock.

PubMatic Stock Down 2.9 %

NASDAQ PUBM opened at $15.61 on Monday. The stock has a market cap of $773.94 million, a P/E ratio of 43.61 and a beta of 1.39. The company’s 50-day simple moving average is $14.83 and its 200 day simple moving average is $18.56. PubMatic has a twelve month low of $13.18 and a twelve month high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, beating 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 net margin of 7.08% and a return on equity of 6.92%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Research analysts anticipate that PubMatic will post 0.2 earnings per share for the current year.

Insider Activity at PubMatic

In other PubMatic news, CAO Lisa Gimbel sold 2,397 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.66, for a total value of $32,743.02. Following the sale, the chief accounting officer now directly owns 3,956 shares in the company, valued at approximately $54,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Lisa Gimbel sold 2,397 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.66, for a total transaction of $32,743.02. Following the sale, the chief accounting officer now directly owns 3,956 shares in the company, valued at $54,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total transaction of $381,250.00. The disclosure for this sale can be found here. Insiders have sold 109,788 shares of company stock worth $1,608,253 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PUBM. Empowered Funds LLC increased its stake in shares of PubMatic by 9.1% during the 1st quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock worth $465,000 after purchasing an additional 1,632 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of PubMatic during the 1st quarter worth about $107,000. Sei Investments Co. acquired a new position in shares of PubMatic during the 1st quarter worth about $572,000. Inspire Investing LLC bought a new stake in shares of PubMatic during the 1st quarter worth about $1,249,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of PubMatic by 1,073.9% during the 1st quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock worth $2,990,000 after buying an additional 115,300 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.