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

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $19.11.

Several equities research analysts recently issued reports on PUBM shares. Scotiabank reduced their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Royal Bank Of Canada reduced their price objective on PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Lake Street Capital reduced their price objective on PubMatic from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, May 9th.

Insider Buying and Selling

In related news, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $9.83, for a total transaction of $39,320.00. Following the completion of the sale, the chief financial officer now directly owns 27,026 shares in the company, valued at approximately $265,665.58. This trade represents a 12.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Amar K. Goel sold 4,446 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $41,392.26. Following the sale, the chairman now owns 18,401 shares of the company’s stock, valued at approximately $171,313.31. This represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,157 shares of company stock worth $1,124,437. Corporate insiders own 26.42% of the company’s stock.

Institutional Trading of PubMatic

Several large investors have recently made changes to their positions in PUBM. GAMMA Investing LLC boosted its stake in shares of PubMatic by 23,208.3% during the 1st quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock worth $26,000 after acquiring an additional 2,785 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in PubMatic in the 4th quarter valued at $27,000. Cubist Systematic Strategies LLC acquired a new position in PubMatic in the 4th quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in PubMatic in the 4th quarter valued at $57,000. Finally, Headlands Technologies LLC acquired a new position in PubMatic in the 1st quarter valued at $69,000. Institutional investors own 64.26% of the company’s stock.

PubMatic Stock Performance

PubMatic stock opened at $11.02 on Tuesday. The company has a 50 day moving average price of $10.78 and a 200 day moving average price of $12.39. PubMatic has a 52 week low of $7.46 and a 52 week high of $22.99. The firm has a market capitalization of $534.80 million, a price-to-earnings ratio of 137.77 and a beta of 1.54.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). PubMatic had a net margin of 1.90% and a return on equity of 1.99%. The business had revenue of $63.83 million during the quarter, compared to analysts’ expectations of $62.07 million. During the same quarter in the previous year, the company earned ($0.05) EPS. PubMatic’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts forecast that PubMatic will post 0.22 earnings per share for the current fiscal year.

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.