PubMatic (NASDAQ:PUBM) Posts Earnings Results, Beats Estimates By $0.05 EPS

PubMatic (NASDAQ:PUBM) issued its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05, reports. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The firm had revenue of $71.79 million for the quarter, compared to analysts’ expectations of $66.14 million. PubMatic updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

PubMatic Trading Down 3.9 %

Shares of PubMatic stock opened at $15.63 on Friday. The company has a 50-day moving average of $14.90 and a two-hundred day moving average of $18.32. PubMatic has a 12-month low of $13.18 and a 12-month high of $25.36. The stock has a market cap of $774.94 million, a PE ratio of 50.42 and a beta of 1.39.

Insider Transactions at PubMatic

In related news, Chairman Amar K. Goel sold 3,889 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $55,651.59. Following the sale, the chairman now directly owns 7,935 shares in the company, valued at $113,549.85. The trade was a 32.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew Woods sold 2,710 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the sale, the general counsel now directly owns 26,739 shares in the company, valued at approximately $409,106.70. The trade was a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,391 shares of company stock valued at $1,519,390 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Founders Capital Management increased its position in PubMatic by 100.0% during the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in PubMatic in the 2nd quarter valued at about $29,000. Price T Rowe Associates Inc. MD boosted its stake in shares of PubMatic by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock worth $530,000 after purchasing an additional 1,561 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of PubMatic by 9.1% during the first quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock worth $465,000 after buying an additional 1,632 shares in the last quarter. Finally, Versor Investments LP raised its position in shares of PubMatic by 8.2% in the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock valued at $451,000 after buying an additional 1,677 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PUBM has been the subject of several analyst reports. Macquarie restated a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research note on Thursday. Royal Bank of Canada cut their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. B. Riley lowered their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Evercore ISI increased their price target on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Jefferies Financial Group lowered their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.71.

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.