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

PubMatic, Inc. (NASDAQ:PUBM) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $21.67.

A number of analysts have issued reports on the stock. Raymond James downgraded shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Wolfe Research assumed coverage on shares of PubMatic in a report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price target for the company. Jefferies Financial Group cut their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th. Macquarie cut their price target on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, Royal Bank of Canada cut their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th.

PubMatic Stock Performance

Shares of PUBM stock opened at $15.61 on Monday. The company has a market capitalization of $773.94 million, a price-to-earnings ratio of 43.61 and a beta of 1.39. The company has a 50-day simple moving average of $14.83 and a 200 day simple moving average of $18.56. PubMatic has a 52 week low of $13.18 and a 52 week high of $25.36.

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

Insider Buying and Selling at PubMatic

In other PubMatic news, CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $14.03, for a total value of $56,120.00. Following the completion of the transaction, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $315,759.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $14.03, for a total value of $56,120.00. Following the sale, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $315,759.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lisa Gimbel sold 2,397 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.66, for a total transaction of $32,743.02. Following the completion of the sale, the chief accounting officer now directly owns 3,956 shares in the company, valued at approximately $54,038.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,788 shares of company stock worth $1,608,253. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in PubMatic by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock worth $100,914,000 after acquiring an additional 22,713 shares in the last quarter. Renaissance Technologies LLC boosted its stake in PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after acquiring an additional 265,700 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in PubMatic by 92.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after acquiring an additional 211,520 shares in the last quarter. Millennium Management LLC bought a new position in PubMatic during the second quarter worth $6,582,000. Finally, American Century Companies Inc. boosted its stake in PubMatic by 9.1% during the second quarter. American Century Companies Inc. now owns 316,514 shares of the company’s stock worth $6,428,000 after acquiring an additional 26,387 shares in the last quarter. 64.26% of the stock is owned by institutional investors.

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.