PubMatic, Inc. (NASDAQ:PUBM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of PubMatic, Inc. (NASDAQ:PUBM) have received an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $23.33.

Several equities analysts have recently commented on PUBM shares. Royal Bank of Canada increased their price target on shares of PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Wolfe Research started coverage on shares of PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, B. Riley started coverage on shares of PubMatic in a research report on Friday, April 19th. They set a “buy” rating and a $27.00 price target on the stock.

PubMatic Price Performance

Shares of PubMatic stock opened at $21.96 on Friday. The business has a 50-day moving average of $21.24 and a 200-day moving average of $20.61. The company has a market capitalization of $1.10 billion, a PE ratio of 104.58 and a beta of 1.44. PubMatic has a 1-year low of $10.92 and a 1-year high of $25.36.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. The company had revenue of $66.70 million during the quarter, compared to the consensus estimate of $62.19 million. During the same period last year, the firm earned ($0.09) earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts expect that PubMatic will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Steven Pantelick sold 7,846 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $20.64, for a total transaction of $161,941.44. Following the transaction, the chief financial officer now owns 22,506 shares in the company, valued at $464,523.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Steven Pantelick sold 7,846 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $20.64, for a total transaction of $161,941.44. Following the transaction, the chief financial officer now owns 22,506 shares in the company, valued at $464,523.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $532,000.00. Following the transaction, the chief executive officer now owns 9,000 shares in the company, valued at approximately $191,520. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,524 shares of company stock valued at $1,980,099. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in PubMatic by 14.8% in the 2nd quarter. Principal Financial Group Inc. now owns 30,236 shares of the company’s stock worth $614,000 after purchasing an additional 3,894 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of PubMatic by 7.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 227,948 shares of the company’s stock valued at $4,630,000 after buying an additional 14,907 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after buying an additional 3,280 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of PubMatic by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 156,134 shares of the company’s stock valued at $3,171,000 after buying an additional 11,712 shares during the period. Finally, EFG Asset Management North America Corp. boosted its stake in shares of PubMatic by 33.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 100,938 shares of the company’s stock valued at $2,049,000 after buying an additional 25,327 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.