Analysts Set PubMatic, Inc. (NASDAQ:PUBM) Target Price at $23.00

PubMatic, Inc. (NASDAQ:PUBM) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $23.00.

Several research firms have weighed in on PUBM. B. Riley began coverage on shares of PubMatic in a report on Friday, April 19th. They issued a “buy” rating and a $27.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th.

Insider Activity

In other news, CFO Steven Pantelick sold 8,876 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $23.71, for a total value of $210,449.96. Following the sale, the chief financial officer now directly owns 16,833 shares of the company’s stock, valued at approximately $399,110.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.08, for a total transaction of $502,000.00. Following the sale, the chief executive officer now directly owns 22,711 shares of the company’s stock, valued at approximately $456,036.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven Pantelick sold 8,876 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $23.71, for a total transaction of $210,449.96. Following the sale, the chief financial officer now directly owns 16,833 shares in the company, valued at $399,110.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,371 shares of company stock valued at $2,460,434. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several large investors have recently added to or reduced their stakes in PUBM. SG Americas Securities LLC acquired a new position in shares of PubMatic in the 1st quarter valued at $107,000. Public Employees Retirement System of Ohio acquired a new stake in PubMatic during the 3rd quarter worth $142,000. SVB Wealth LLC acquired a new stake in PubMatic during the 4th quarter worth $163,000. QRG Capital Management Inc. acquired a new stake in PubMatic during the 4th quarter worth $191,000. Finally, Arizona State Retirement System lifted its stake in shares of PubMatic by 9.0% in the 4th quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock worth $194,000 after acquiring an additional 984 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

PubMatic Trading Up 1.1 %

NASDAQ:PUBM opened at $20.67 on Tuesday. The company’s 50-day moving average price is $21.93 and its 200-day moving average price is $19.90. PubMatic has a twelve month low of $10.92 and a twelve month high of $25.36. The company has a market cap of $1.03 billion, a P/E ratio of 98.43 and a beta of 1.44.

PubMatic (NASDAQ:PUBM) last posted 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. The company had revenue of $66.70 million for the quarter, compared to analyst estimates of $62.19 million. PubMatic had a net margin of 4.42% and a return on equity of 4.21%. PubMatic’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. On average, analysts expect that PubMatic will post 0.24 earnings per share for the current year.

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.