PubMatic (NASDAQ:PUBM) Research Coverage Started at B. Riley

B. Riley started coverage on shares of PubMatic (NASDAQ:PUBM) in a research report released on Friday, MarketBeat reports. The firm issued a buy rating and a $27.00 target price on the stock. B. Riley also issued estimates for PubMatic’s Q2 2024 earnings at ($0.03) EPS and Q3 2024 earnings at ($0.03) EPS.

PUBM has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed an outperform rating and set a $26.00 target price on shares of PubMatic in a report on Monday, March 25th. JMP Securities boosted their price target on shares of PubMatic from $18.00 to $25.00 and gave the company a market outperform rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, PubMatic currently has an average rating of Moderate Buy and an average target price of $22.20.

PubMatic Stock Performance

PUBM opened at $22.17 on Friday. The company has a fifty day moving average price of $21.18 and a two-hundred day moving average price of $17.11. PubMatic has a 52 week low of $10.92 and a 52 week high of $24.18. The firm has a market capitalization of $1.11 billion, a PE ratio of 147.80 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last released its earnings results on Monday, February 26th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.15. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $78.19 million. During the same quarter in the previous year, the business earned $0.24 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities analysts forecast that PubMatic will post 0.17 EPS for the current year.

Insider Activity at PubMatic

In related news, CEO Rajeev K. Goel sold 98,600 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $20.70, for a total value of $2,041,020.00. Following the sale, the chief executive officer now directly owns 7,500 shares of the company’s stock, valued at approximately $155,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Rajeev K. Goel sold 98,600 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $20.70, for a total value of $2,041,020.00. Following the sale, the chief executive officer now directly owns 7,500 shares of the company’s stock, valued at approximately $155,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paulina Klimenko sold 2,083 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $17.00, for a total transaction of $35,411.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,563 shares of company stock valued at $3,940,568. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PubMatic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in PubMatic by 17.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after buying an additional 228,190 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in PubMatic by 8.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock worth $7,113,000 after buying an additional 35,286 shares in the last quarter. Wellington Management Group LLP lifted its position in PubMatic by 5.7% during the 4th quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock worth $5,275,000 after buying an additional 17,497 shares in the last quarter. Merit Financial Group LLC lifted its position in PubMatic by 9.1% during the 4th quarter. Merit Financial Group LLC now owns 175,896 shares of the company’s stock worth $2,869,000 after buying an additional 14,703 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in PubMatic by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 174,092 shares of the company’s stock worth $2,107,000 after buying an additional 1,489 shares in the last quarter. 64.26% of the stock is owned by institutional investors.

About PubMatic

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.