Shares of PubMatic, Inc. (NASDAQ:PUBM – Get Rating) have been assigned an average rating of "Moderate Buy" from the nine ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $31.38.
Several research firms have weighed in on PUBM. Raymond James lifted their price objective on shares of PubMatic from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 9th. Evercore ISI boosted their price target on shares of PubMatic to $23.00 in a report on Monday, August 15th. KeyCorp cut shares of PubMatic to a "sector weight" rating in a report on Tuesday, August 9th. JMP Securities lowered their price target on shares of PubMatic from $40.00 to $34.00 and set a "market outperform" rating on the stock in a report on Tuesday, August 9th. Finally, Jefferies Financial Group lowered their price target on shares of PubMatic from $23.00 to $20.00 in a report on Thursday, August 4th.
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Insider Activity at PubMatic
In related news, CEO Rajeev K. Goel sold 50,000 shares of PubMatic stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $20.60, for a total value of $1,030,000.00. Following the completion of the sale, the chief executive officer now owns 5,371 shares of the company's stock, valued at approximately $110,642.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PubMatic news, Chairman Amar K. Goel sold 24,000 shares of the business's stock in a transaction on Monday, July 18th. The shares were sold at an average price of $15.93, for a total transaction of $382,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajeev K. Goel sold 50,000 shares of the business's stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $20.60, for a total transaction of $1,030,000.00. Following the transaction, the chief executive officer now directly owns 5,371 shares of the company's stock, valued at approximately $110,642.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,823 shares of company stock valued at $3,817,145. Insiders own 1.20% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Tyler Stone Wealth Management acquired a new position in PubMatic during the 4th quarter worth $26,000. Baldwin Brothers LLC MA bought a new position in shares of PubMatic during the 1st quarter worth about $39,000. Ensign Peak Advisors Inc increased its holdings in shares of PubMatic by 37.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 3,490 shares of the company's stock worth $55,000 after purchasing an additional 960 shares during the period. Assetmark Inc. increased its holdings in shares of PubMatic by 368.4% during the 2nd quarter. Assetmark Inc. now owns 4,281 shares of the company's stock worth $68,000 after purchasing an additional 3,367 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of PubMatic during the 2nd quarter worth about $68,000. Institutional investors and hedge funds own 42.94% of the company's stock.
PubMatic Stock Performance
NASDAQ PUBM opened at $17.14 on Wednesday. PubMatic has a twelve month low of $14.73 and a twelve month high of $43.65. The stock has a market cap of $889.12 million, a price-to-earnings ratio of 17.85 and a beta of 0.66. The firm's 50 day moving average price is $18.58 and its two-hundred day moving average price is $20.41.
PubMatic (NASDAQ:PUBM – Get Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. PubMatic had a net margin of 21.64% and a return on equity of 19.13%. The firm had revenue of $63.03 million for the quarter, compared to analysts' expectations of $60.64 million. During the same period in the previous year, the company posted $0.18 EPS. The company's quarterly revenue was up 26.9% compared to the same quarter last year. On average, research analysts forecast that PubMatic will post 0.68 EPS for the current fiscal year.
About PubMatic
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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.
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