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

PubMatic, Inc. (NASDAQ:PUBM) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.25.

A number of analysts have recently commented on the stock. Evercore reissued an “outperform” rating and issued a $21.00 price objective on shares of PubMatic in a research report on Monday, August 10th. Weiss Ratings lowered shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Rosenblatt Securities boosted their price target on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Jefferies Financial Group boosted their price target on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Finally, Lake Street Capital restated a “buy” rating and set a $20.00 price objective on shares of PubMatic in a research note on Friday, August 7th.

PubMatic Stock Performance

NASDAQ:PUBM opened at $16.85 on Thursday. The stock has a 50-day simple moving average of $15.27 and a 200 day simple moving average of $11.89. PubMatic has a 52-week low of $6.15 and a 52-week high of $18.44. The company has a market cap of $767.52 million, a PE ratio of -56.16 and a beta of 1.58.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. The firm had revenue of $78.59 million for the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. On average, research analysts predict that PubMatic will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at PubMatic

In other PubMatic news, Chairman Amar Goel sold 6,250 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $17.04, for a total value of $106,500.00. Following the completion of the transaction, the chairman directly owned 35,580 shares in the company, valued at $606,283.20. This trade represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven Pantelick sold 19,716 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $17.31, for a total value of $341,283.96. Following the completion of the transaction, the chief financial officer owned 10,353 shares of the company’s stock, valued at approximately $179,210.43. This represents a 65.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 538,626 shares of company stock valued at $8,664,396 in the last ninety days. Insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On PubMatic

A number of institutional investors have recently added to or reduced their stakes in the company. Simcoe Capital LLC bought a new position in PubMatic in the 4th quarter valued at about $3,625,000. CenterBook Partners LP lifted its position in PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after acquiring an additional 398,595 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after acquiring an additional 321,200 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of PubMatic during the first quarter worth approximately $1,687,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of PubMatic in the second quarter valued at approximately $2,076,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

About PubMatic

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.