B. Riley Begins Coverage on PubMatic (NASDAQ:PUBM)

B. Riley started coverage on shares of PubMatic (NASDAQ:PUBM) in a report issued on Friday, StockNewsAPI reports. The brokerage set a “buy” rating and a $27.00 price target on the stock. B. Riley’s target price suggests a potential upside of 23.12% from the stock’s previous close.

A number of other brokerages have also weighed in on PUBM. JMP Securities raised their price objective on PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 27th. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price target on shares of PubMatic in a report on Monday, March 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

PubMatic Stock Up 1.8 %

PUBM stock traded up $0.39 during midday trading on Friday, hitting $21.93. The company’s stock had a trading volume of 51,277 shares, compared to its average volume of 479,101. PubMatic has a 12 month low of $10.92 and a 12 month high of $24.18. The company has a 50 day moving average of $20.93 and a two-hundred day moving average of $16.90. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 146.21 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last released its earnings results on Monday, February 26th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.19 by $0.15. The firm had revenue of $84.60 million for the quarter, compared to the consensus estimate of $78.19 million. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, analysts anticipate that PubMatic will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paulina Klimenko sold 2,083 shares of PubMatic stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $17.00, for a total value of $35,411.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PubMatic news, Chairman Amar K. Goel sold 3,770 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $23.71, for a total transaction of $89,386.70. Following the transaction, the chairman now owns 2,640 shares in the company, valued at $62,594.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paulina Klimenko sold 2,083 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $17.00, for a total transaction of $35,411.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,563 shares of company stock worth $3,940,568. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently added to or reduced their stakes in PUBM. Ancora Advisors LLC purchased a new position in shares of PubMatic during the fourth quarter valued at approximately $26,000. Guinness Atkinson Asset Management Inc boosted its holdings in PubMatic by 48.6% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after acquiring an additional 992 shares during the period. Tower Research Capital LLC TRC grew its position in PubMatic by 225.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock valued at $44,000 after acquiring an additional 2,546 shares during the last quarter. Lazard Asset Management LLC bought a new position in PubMatic in the 2nd quarter valued at $46,000. Finally, Point72 Asset Management L.P. purchased a new stake in PubMatic in the fourth quarter worth $65,000. 64.26% of the stock is currently 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.