PubMatic, Inc. (NASDAQ:PUBM) Receives $12.19 Average Target Price from Brokerages

by · The Cerbat Gem

PubMatic, Inc. (NASDAQ:PUBM – Get Free Report) has earned an average recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $12.1875.

A number of research analysts have commented on PUBM shares. Wall Street Zen upgraded PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research report on Wednesday, October 8th. Evercore ISI increased their price objective on shares of PubMatic from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Wolfe Research reiterated an “outperform” rating and set a $12.00 price objective on shares of PubMatic in a research note on Tuesday, November 11th. Finally, Rosenblatt Securities upped their target price on shares of PubMatic from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th.

View Our Latest Research Report on PubMatic

PubMatic Stock Up 1.6%

Shares of PUBM stock opened at $9.33 on Tuesday. PubMatic has a fifty-two week low of $7.01 and a fifty-two week high of $17.32. The firm’s 50 day moving average price is $8.68 and its two-hundred day moving average price is $9.89. The stock has a market cap of $433.10 million, a price-to-earnings ratio of -49.11 and a beta of 1.49.

PubMatic (NASDAQ:PUBM – Get Free Report) last released its quarterly earnings data on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $67.96 million during the quarter, compared to analyst estimates of $63.95 million. PubMatic had a negative net margin of 2.51% and a negative return on equity of 2.78%. On average, equities analysts forecast that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, CFO Steven Pantelick sold 15,779 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $8.23, for a total transaction of $129,861.17. Following the completion of the sale, the chief financial officer directly owned 42,212 shares in the company, valued at $347,404.76. This trade represents a 27.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mukul Kumar sold 5,428 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $8.24, for a total value of $44,726.72. Following the completion of the transaction, the insider owned 77,393 shares in the company, valued at approximately $637,718.32. This trade represents a 6.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 300,519 shares of company stock valued at $2,510,610. Corporate insiders own 26.42% of the company’s stock.

Institutional Trading of PubMatic

Hedge funds have recently made changes to their positions in the stock. CenterBook Partners LP raised its holdings in PubMatic by 239.0% in the third quarter. CenterBook Partners LP now owns 748,460 shares of the company’s stock valued at $6,197,000 after acquiring an additional 527,650 shares in the last quarter. Graham Holdings Co increased its position in shares of PubMatic by 21.4% in the 1st quarter. Graham Holdings Co now owns 2,831,462 shares of the company’s stock worth $25,880,000 after purchasing an additional 500,000 shares during the last quarter. Nuveen LLC acquired a new stake in shares of PubMatic in the 1st quarter valued at about $3,963,000. Acadian Asset Management LLC lifted its position in shares of PubMatic by 483.6% during the first quarter. Acadian Asset Management LLC now owns 457,033 shares of the company’s stock worth $4,174,000 after purchasing an additional 378,714 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of PubMatic by 254.7% during the third quarter. UBS Group AG now owns 422,630 shares of the company’s stock worth $3,499,000 after purchasing an additional 303,479 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

About PubMatic

(Get Free Report)

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.

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