B. Riley Comments on PubMatic, Inc.’s Q2 2024 Earnings (NASDAQ:PUBM)

PubMatic, Inc. (NASDAQ:PUBM) – Equities research analysts at B. Riley issued their Q2 2024 earnings per share estimates for PubMatic in a report released on Thursday, April 18th. B. Riley analyst Z. Cummins expects that the company will post earnings of ($0.03) per share for the quarter. B. Riley has a “Buy” rating and a $27.00 price objective on the stock. The consensus estimate for PubMatic’s current full-year earnings is $0.17 per share. B. Riley also issued estimates for PubMatic’s Q3 2024 earnings at ($0.03) EPS.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price target on shares of PubMatic in a research report on Monday, March 25th. JMP Securities upped their price target on shares of PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

PubMatic Stock Up 3.0 %

NASDAQ:PUBM opened at $22.84 on Monday. PubMatic has a 12 month low of $10.92 and a 12 month high of $24.18. The company’s 50-day moving average price is $21.33 and its two-hundred day moving average price is $17.19. The firm has a market cap of $1.14 billion, a PE ratio of 152.28 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Monday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.15. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $78.19 million. During the same period in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year.

Institutional Investors Weigh In On PubMatic

Institutional investors have recently bought and sold shares of the company. Harbour Capital Advisors LLC bought a new stake in shares of PubMatic in the first quarter worth $266,000. Counterpoint Mutual Funds LLC bought a new stake in PubMatic during the first quarter worth about $685,000. Los Angeles Capital Management LLC acquired a new position in PubMatic during the first quarter valued at approximately $1,412,000. Wellington Management Group LLP grew its stake in PubMatic by 5.7% in the fourth quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock valued at $5,275,000 after purchasing an additional 17,497 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of PubMatic during the 4th quarter worth approximately $469,000. Institutional investors own 64.26% of the company’s stock.

Insider Buying and Selling at PubMatic

In related news, CEO Rajeev K. Goel sold 98,600 shares of PubMatic stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total transaction of $2,041,020.00. Following the completion of the sale, the chief executive officer now directly owns 7,500 shares of the company’s stock, valued at $155,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PubMatic news, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.64, for a total value of $151,480.00. Following the transaction, the insider now owns 30,958 shares of the company’s stock, valued at $669,931.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rajeev K. Goel sold 98,600 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total transaction of $2,041,020.00. Following the sale, the chief executive officer now owns 7,500 shares in the company, valued at $155,250. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,563 shares of company stock valued at $3,940,568. 2.00% of the stock is currently owned by insiders.

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.