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

PubMatic, Inc. (NASDAQ:PUBMGet Rating) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $31.38.

A number of equities research analysts have commented on PUBM shares. Evercore ISI increased their target price on PubMatic to $23.00 in a report on Monday, August 15th. JMP Securities reduced their price target on PubMatic from $40.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 9th. Lake Street Capital reduced their price target on PubMatic from $26.00 to $24.00 in a research note on Tuesday, August 9th. Raymond James increased their price target on PubMatic from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 9th. Finally, Jefferies Financial Group reduced their price target on PubMatic from $23.00 to $20.00 in a research note on Thursday, August 4th.

PubMatic Price Performance

PUBM opened at $17.14 on Wednesday. The stock has a market cap of $889.12 million, a P/E ratio of 17.85 and a beta of 0.66. The stock’s 50 day simple moving average is $18.58 and its 200 day simple moving average is $20.41. PubMatic has a 1-year low of $14.73 and a 1-year high of $43.65.

PubMatic (NASDAQ:PUBMGet Rating) last announced its earnings results on Monday, August 8th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $63.03 million for the quarter, compared to analysts’ expectations of $60.64 million. PubMatic had a return on equity of 19.13% and a net margin of 21.64%. PubMatic’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. Research analysts expect that PubMatic will post 0.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Rajeev K. Goel sold 5,865 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $15.28, for a total value of $89,617.20. Following the transaction, the chief executive officer now directly owns 5,371 shares of the company’s stock, valued at approximately $82,068.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other PubMatic news, CFO Steven Pantelick sold 2,640 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $15.28, for a total value of $40,339.20. Following the transaction, the chief financial officer now directly owns 13,552 shares of the company’s stock, valued at $207,074.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rajeev K. Goel sold 5,865 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $15.28, for a total value of $89,617.20. Following the completion of the transaction, the chief executive officer now directly owns 5,371 shares in the company, valued at $82,068.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,823 shares of company stock valued at $3,817,145. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of PubMatic

Several large investors have recently modified their holdings of PUBM. Advisor Group Holdings Inc. grew its stake in shares of PubMatic by 295.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,808 shares of the company’s stock valued at $198,000 after acquiring an additional 4,341 shares in the last quarter. Northern Trust Corp grew its stake in shares of PubMatic by 56.3% during the fourth quarter. Northern Trust Corp now owns 60,149 shares of the company’s stock valued at $2,048,000 after acquiring an additional 21,664 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of PubMatic during the fourth quarter valued at about $6,022,000. Acadian Asset Management LLC grew its stake in shares of PubMatic by 31.5% during the fourth quarter. Acadian Asset Management LLC now owns 8,500 shares of the company’s stock valued at $288,000 after acquiring an additional 2,038 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in PubMatic by 527.7% in the fourth quarter. JPMorgan Chase & Co. now owns 202,104 shares of the company’s stock worth $6,881,000 after purchasing an additional 169,909 shares in the last quarter. 42.94% of the stock is currently owned by institutional investors and hedge funds.

About PubMatic

(Get Rating)

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 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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