Analysts Set PubMatic, Inc. (NASDAQ:PUBM) Target Price at $49.00

PubMatic, Inc. (NASDAQ:PUBM) has received an average rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $46.83.

A number of brokerages have recently weighed in on PUBM. Cannonball Research began coverage on PubMatic in a research report on Monday, March 15th. They issued a “neutral” rating on the stock. KeyCorp cut their price objective on PubMatic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, May 14th. Oppenheimer cut their price objective on PubMatic from $55.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 14th. JMP Securities lifted their price target on PubMatic from $34.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, February 24th. Finally, Evercore ISI upgraded PubMatic from an “in-line” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Thursday.

In other PubMatic news, General Counsel Thomas C. Chow sold 16,866 shares of the business’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $30.07, for a total value of $507,160.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Der Zweep Michael Van sold 4,289 shares of the business’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $29.87, for a total value of $128,112.43. The disclosure for this sale can be found here. Insiders have sold 71,155 shares of company stock worth $2,052,273 over the last 90 days.

A number of institutional investors have recently added to or reduced their stakes in PUBM. BlackRock Inc. bought a new stake in PubMatic in the fourth quarter worth $19,590,000. Lord Abbett & CO. LLC bought a new stake in PubMatic in the fourth quarter worth $11,422,000. Premier Fund Managers Ltd purchased a new position in shares of PubMatic in the fourth quarter worth $111,000. Liberty Street Advisors Inc. purchased a new position in shares of PubMatic in the fourth quarter worth $5,346,000. Finally, STA Wealth Management LLC purchased a new position in shares of PubMatic in the fourth quarter worth $336,000. 11.19% of the stock is currently owned by institutional investors and hedge funds.

PubMatic stock traded up $1.71 during trading hours on Thursday, reaching $33.84. The company had a trading volume of 2,015,272 shares, compared to its average volume of 848,452. The stock has a 50-day simple moving average of $43.21. The stock has a market cap of $1.67 billion and a price-to-earnings ratio of 73.57. PubMatic has a 12-month low of $22.42 and a 12-month high of $76.96.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, May 13th. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. The company had revenue of $43.60 million during the quarter, compared to analysts’ expectations of $39.48 million. The firm’s quarterly revenue was up 54.1% on a year-over-year basis. Equities analysts expect that PubMatic will post 0.31 EPS for the current year.

About PubMatic

PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include PubMatic Cloud, which offers a customizable platform as a service; Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.

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Analyst Recommendations for PubMatic (NASDAQ:PUBM)

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