Brokerages Set PubMatic, Inc. (NASDAQ:PUBM) Target Price at $21.00

PubMatic, Inc. (NASDAQ:PUBM) has earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $21.00.

PUBM has been the subject of a number of recent research reports. Macquarie cut their price objective on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Wolfe Research assumed coverage on PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 target price for the company. Jefferies Financial Group reduced their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reduced their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Finally, B. Riley reduced their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th.

PubMatic Stock Performance

Shares of NASDAQ:PUBM opened at $15.12 on Thursday. PubMatic has a one year low of $10.92 and a one year high of $25.36. The stock has a fifty day moving average of $15.05 and a 200-day moving average of $19.57. The company has a market capitalization of $749.65 million, a PE ratio of 42.00 and a beta of 1.39.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The company had revenue of $67.27 million during the quarter, compared to the consensus estimate of $70.07 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that PubMatic will post 0.2 EPS for the current fiscal year.

Insider Transactions at PubMatic

In other news, Chairman Amar K. Goel sold 3,889 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $55,651.59. Following the transaction, the chairman now directly owns 7,935 shares of the company’s stock, valued at approximately $113,549.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PubMatic news, Chairman Amar K. Goel sold 3,889 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the transaction, the chairman now directly owns 7,935 shares of the company’s stock, valued at $113,549.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $18.73, for a total transaction of $468,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,896 shares of company stock valued at $1,906,263. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On PubMatic

Several hedge funds have recently made changes to their positions in the stock. Redwood Wealth Management Group LLC bought a new position in PubMatic during the second quarter worth about $29,000. Headlands Technologies LLC bought a new position in PubMatic during the second quarter worth about $38,000. Founders Capital Management lifted its stake in PubMatic by 100.0% during the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares during the period. SG Americas Securities LLC bought a new position in PubMatic during the first quarter worth about $107,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PubMatic by 56.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after purchasing an additional 3,280 shares during the period. Institutional investors own 64.26% of the company’s stock.

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.