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

Shares of PubMatic, Inc. (NASDAQ:PUBMGet Rating) have earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $18.14.

PUBM has been the topic of several analyst reports. Royal Bank of Canada decreased their price target on PubMatic from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st. Vertical Research cut PubMatic to a “neutral” rating in a research report on Tuesday, January 24th. JMP Securities decreased their price target on PubMatic from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 1st. Jefferies Financial Group cut their price objective on PubMatic from $16.00 to $15.00 in a report on Thursday, December 15th. Finally, Oppenheimer cut their price objective on PubMatic from $23.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st.

PubMatic Stock Up 2.8 %

Shares of PUBM opened at $13.32 on Wednesday. The business’s 50-day moving average price is $14.80 and its 200-day moving average price is $15.70. PubMatic has a twelve month low of $12.19 and a twelve month high of $28.30. The stock has a market cap of $703.70 million, a PE ratio of 26.64 and a beta of 0.92.

Insider Transactions at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 4,824 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $12.96, for a total value of $62,519.04. Following the completion of the sale, the chief executive officer now owns 17,449 shares of the company’s stock, valued at $226,139.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PubMatic news, CEO Rajeev K. Goel sold 4,824 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $12.96, for a total value of $62,519.04. Following the completion of the sale, the chief executive officer now owns 17,449 shares of the company’s stock, valued at $226,139.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven Pantelick sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $12.96, for a total value of $43,454.88. Following the completion of the sale, the chief financial officer now directly owns 27,766 shares of the company’s stock, valued at approximately $359,847.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,628 shares of company stock valued at $711,572. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of PubMatic

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new stake in PubMatic in the first quarter valued at approximately $21,971,000. State Street Corp lifted its position in PubMatic by 471.4% in the second quarter. State Street Corp now owns 753,049 shares of the company’s stock valued at $11,966,000 after purchasing an additional 621,258 shares during the last quarter. Nixon Capital LLC bought a new stake in PubMatic in the fourth quarter valued at approximately $5,863,000. Nuveen Asset Management LLC lifted its position in PubMatic by 260.3% in the third quarter. Nuveen Asset Management LLC now owns 487,111 shares of the company’s stock valued at $8,100,000 after purchasing an additional 351,918 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in PubMatic by 462.2% in the first quarter. Goldman Sachs Group Inc. now owns 412,626 shares of the company’s stock valued at $10,778,000 after purchasing an additional 339,233 shares during the last quarter. Hedge funds and other institutional investors own 41.61% of the company’s stock.

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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