PubMatic, Inc. (NASDAQ:PUBM – Get Rating) has earned an average recommendation of "Moderate Buy" from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $20.14.
A number of equities analysts have recently issued reports on PUBM shares. Evercore ISI dropped their target price on PubMatic to $18.00 in a report on Tuesday, November 15th. Jefferies Financial Group dropped their target price on PubMatic from $16.00 to $15.00 in a report on Thursday, December 15th. Raymond James dropped their target price on PubMatic from $25.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, November 9th. Royal Bank of Canada dropped their target price on PubMatic from $31.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, November 9th. Finally, JMP Securities decreased their price target on PubMatic from $34.00 to $22.00 and set a "market outperform" rating on the stock in a research report on Wednesday, November 9th.
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Insider Buying and Selling
In other PubMatic news, Director Susan Daimler sold 15,750 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $15.71, for a total value of $247,432.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other PubMatic news, Director Susan Daimler sold 15,750 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $15.71, for a total value of $247,432.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Pantelick sold 60,000 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $16.13, for a total value of $967,800.00. Following the completion of the transaction, the chief financial officer now owns 23,801 shares in the company, valued at $383,910.13. The disclosure for this sale can be found here. Insiders have sold a total of 148,557 shares of company stock worth $2,264,825 in the last three months. Insiders own 1.20% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of PubMatic by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,319,892 shares of the company's stock worth $71,840,000 after purchasing an additional 29,696 shares during the last quarter. BlackRock Inc. boosted its position in shares of PubMatic by 0.4% in the 3rd quarter. BlackRock Inc. now owns 2,607,362 shares of the company's stock worth $43,361,000 after purchasing an additional 9,847 shares during the last quarter. Royal Bank of Canada boosted its position in shares of PubMatic by 2.8% in the 3rd quarter. Royal Bank of Canada now owns 1,219,599 shares of the company's stock worth $20,282,000 after purchasing an additional 32,960 shares during the last quarter. Graham Holdings Co boosted its position in shares of PubMatic by 27.0% in the 3rd quarter. Graham Holdings Co now owns 1,081,811 shares of the company's stock worth $17,991,000 after purchasing an additional 229,916 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of PubMatic in the 1st quarter worth $21,971,000. 41.61% of the stock is currently owned by institutional investors.
PubMatic Stock Up 3.7 %
PubMatic stock opened at $14.94 on Tuesday. The business has a 50 day moving average price of $14.07 and a two-hundred day moving average price of $16.55. The stock has a market cap of $785.34 million, a price-to-earnings ratio of 19.15 and a beta of 0.81. PubMatic has a 12 month low of $12.19 and a 12 month high of $31.85.
PubMatic (NASDAQ:PUBM – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. PubMatic had a return on equity of 17.48% and a net margin of 17.14%. The firm had revenue of $64.50 million during the quarter, compared to analysts' expectations of $66.88 million. On average, analysts expect that PubMatic will post 0.54 earnings per share 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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