Analysts Set PubMatic, Inc. (NASDAQ:PUBM) Target Price at $21.00

PubMatic, Inc. (NASDAQ:PUBM) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $21.00.

A number of equities research analysts have issued reports on the stock. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Macquarie dropped their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Wolfe Research initiated coverage on shares of PubMatic in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Jefferies Financial Group reduced their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, Royal Bank of Canada lowered their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $14.52 on Friday. The business’s 50-day simple moving average is $17.16 and its 200-day simple moving average is $20.40. PubMatic has a 52 week low of $10.92 and a 52 week high of $25.36. The firm has a market cap of $719.90 million, a price-to-earnings ratio of 69.15 and a beta of 1.40.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The company had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. During the same quarter last year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that PubMatic will post 0.2 earnings per share for the current year.

Insider Transactions at PubMatic

In related news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.25, for a total transaction of $381,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Lisa Gimbel sold 2,397 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.66, for a total value of $32,743.02. Following the transaction, the chief accounting officer now directly owns 3,956 shares of the company’s stock, valued at approximately $54,038.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.25, for a total value of $381,250.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,062 shares of company stock valued at $2,182,046. 2.90% of the stock is owned by insiders.

Institutional Trading of PubMatic

Several large investors have recently made changes to their positions in PUBM. Redwood Wealth Management Group LLC acquired a new position in PubMatic during the 2nd quarter worth about $29,000. Price T Rowe Associates Inc. MD raised its stake in shares of PubMatic by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock worth $530,000 after acquiring an additional 1,561 shares during the last quarter. Empowered Funds LLC lifted its position in shares of PubMatic by 9.1% during the first quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock worth $465,000 after purchasing an additional 1,632 shares in the last quarter. Versor Investments LP grew its stake in shares of PubMatic by 8.2% during the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock valued at $451,000 after purchasing an additional 1,677 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of PubMatic during the second quarter valued at approximately $38,000. Institutional investors own 64.26% of the company’s stock.

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.