PubMatic, Inc. (NASDAQ:PUBM) Receives Average Recommendation of “Moderate Buy” from Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $22.20.

A number of research firms have commented on PUBM. JMP Securities boosted their price target on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 27th. B. Riley initiated coverage on shares of PubMatic in a research report on Friday, April 19th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 target price on shares of PubMatic in a research report on Monday, March 25th.

Insider Transactions at PubMatic

In other news, insider Paulina Klimenko sold 2,083 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $17.00, for a total transaction of $35,411.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Steven Pantelick sold 8,876 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $23.71, for a total transaction of $210,449.96. Following the completion of the sale, the chief financial officer now directly owns 16,833 shares of the company’s stock, valued at $399,110.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paulina Klimenko sold 2,083 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was 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. Over the last three months, insiders have sold 184,563 shares of company stock worth $3,940,568. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP bought a new stake in shares of PubMatic during the third quarter worth approximately $3,701,000. Aptus Capital Advisors LLC acquired a new position in PubMatic during the third quarter worth $1,350,000. Guinness Atkinson Asset Management Inc boosted its holdings in PubMatic by 48.6% during the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock worth $37,000 after purchasing an additional 992 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PubMatic by 8.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock worth $7,113,000 after purchasing an additional 35,286 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in PubMatic during the third quarter worth $154,000. 64.26% of the stock is owned by institutional investors.

PubMatic Stock Up 2.2 %

NASDAQ:PUBM opened at $23.34 on Thursday. The firm has a market cap of $1.17 billion, a PE ratio of 155.61 and a beta of 1.52. 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 $21.49 and its two-hundred day moving average price is $17.23.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Monday, February 26th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.15. The firm had revenue of $84.60 million for the quarter, compared to analyst estimates of $78.19 million. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. On average, research analysts expect that PubMatic will post 0.18 EPS for the current fiscal year.

About PubMatic

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.