PubMatic’s (PUBM) Market Outperform Rating Reiterated at JMP Securities

PubMatic (NASDAQ:PUBM – Get Rating)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research report issued on Thursday, Benzinga reports. They presently have a $21.00 target price on the stock. JMP Securities’ price objective suggests a potential upside of 60.06% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group lowered their target price on shares of PubMatic from $16.00 to $15.00 in a report on Thursday, December 15th. Royal Bank of Canada dropped their target price on shares of PubMatic from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Oppenheimer lowered their price target on shares of PubMatic from $23.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Vertical Research lowered shares of PubMatic to a “neutral” rating in a research report on Tuesday, January 24th. Finally, Raymond James dropped their price objective on shares of PubMatic from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.14.

PubMatic Stock Down 1.0 %

Shares of PubMatic stock opened at $13.12 on Thursday. The company’s fifty day simple moving average is $14.81 and its two-hundred day simple moving average is $15.62. The firm has a market cap of $693.13 million, a PE ratio of 26.24 and a beta of 0.92. PubMatic has a 12-month low of $12.19 and a 12-month high of $28.30.

Insider Activity

In related news, insider Jeffrey K. Hirsch sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $13.90, for a total transaction of $69,500.00. Following the transaction, the insider now directly owns 7,662 shares of the company’s stock, valued at approximately $106,501.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jeffrey K. Hirsch sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $13.90, for a total transaction of $69,500.00. Following the completion of the transaction, the insider now directly owns 7,662 shares in the company, valued at approximately $106,501.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Amar K. Goel sold 2,345 shares of the stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $13.00, for a total value of $30,485.00. The disclosure for this sale can be found here. Insiders have sold 52,628 shares of company stock valued at $711,572 in the last three months. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several hedge funds have recently modified their holdings of PUBM. Jasper Ridge Partners L.P. increased its holdings in shares of PubMatic by 3.6% during the 1st quarter. Jasper Ridge Partners L.P. now owns 15,032 shares of the company’s stock valued at $393,000 after acquiring an additional 524 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of PubMatic by 7.6% in the 2nd quarter. Verition Fund Management LLC now owns 11,554 shares of the company’s stock valued at $184,000 after buying an additional 819 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of PubMatic by 37.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 3,490 shares of the company’s stock valued at $55,000 after buying an additional 960 shares during the period. Aurora Investment Counsel increased its stake in shares of PubMatic by 2.3% in the 3rd quarter. Aurora Investment Counsel now owns 60,254 shares of the company’s stock valued at $1,002,000 after buying an additional 1,378 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of PubMatic by 12.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 13,199 shares of the company’s stock worth $219,000 after purchasing an additional 1,472 shares during the last quarter. 41.61% of the stock is owned by hedge funds and other institutional investors.

PubMatic Company Profile

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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.