Wall Street Zen Upgrades PubMatic (NASDAQ:PUBM) to Buy

PubMatic (NASDAQ:PUBM) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

PUBM has been the topic of a number of other reports. Craig Hallum began coverage on shares of PubMatic in a research report on Thursday. They set a “buy” rating and a $24.00 price target on the stock. Weiss Ratings downgraded shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Lake Street Capital restated a “buy” rating and set a $20.00 target price on shares of PubMatic in a report on Friday, August 7th. Evercore restated an “outperform” rating and issued a $21.00 price target on shares of PubMatic in a research report on Monday, August 10th. Finally, Citigroup reaffirmed an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.73.

PubMatic Stock Performance

Shares of PUBM stock opened at $18.60 on Friday. The stock’s fifty day moving average is $15.88 and its two-hundred day moving average is $12.35. The firm has a market capitalization of $847.23 million, a P/E ratio of -62.00 and a beta of 1.58. PubMatic has a fifty-two week low of $6.15 and a fifty-two week high of $19.19.

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

Insider Buying and Selling at PubMatic

In other news, CFO Steven Pantelick sold 23,548 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total transaction of $321,430.20. Following the completion of the sale, the chief financial officer owned 64,820 shares in the company, valued at $884,793. This trade represents a 26.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Andrew Woods sold 38,331 shares of PubMatic stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76. Following the sale, the general counsel directly owned 39,761 shares in the company, valued at approximately $714,107.56. The trade was a 49.08% decrease in their position. 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 597,079 shares of company stock worth $9,729,494 in the last ninety days. 27.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in 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 buying an additional 321,200 shares during the period. CenterBook Partners LP raised its stake in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after acquiring an additional 398,595 shares during the period. S Squared Technology LLC raised its stake in shares of PubMatic by 7.7% in the 4th quarter. S Squared Technology LLC now owns 280,972 shares of the company’s stock valued at $2,492,000 after acquiring an additional 20,000 shares during the period. Quantinno Capital Management LP raised its stake in shares of PubMatic by 248.0% in the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after acquiring an additional 147,386 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of PubMatic in the 1st quarter worth approximately $1,687,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

More PubMatic News

Here are the key news stories impacting PubMatic this week:

• Positive Sentiment: Craig Hallum initiated coverage of PubMatic with a “buy” rating and a $24 price target, implying approximately 29% upside from the referenced $18.60 price. The endorsement adds to the bullish momentum surrounding the stock. Craig Hallum initiates coverage of PubMatic
• Positive Sentiment: PubMatic and Silverpush launched global, episode-level contextual CTV audience segments. The offering is designed to help advertisers target viewers based on the specific television content they are watching, potentially expanding PubMatic’s CTV advertising opportunity. Silverpush and PubMatic launch contextual CTV segments PubMatic expands show-level CTV targeting
• Neutral Sentiment: PubMatic was highlighted as a high-volume momentum stock after a reported 6.3% advance. Zacks cautioned that the latest earnings-estimate revision trend may not support continued near-term gains, creating a potential headwind for the rally. Zacks analysis of PubMatic momentum
• Neutral Sentiment: Reported short interest stood at zero shares as of September 24, with a zero-day days-to-cover ratio. This suggests little measurable short-selling pressure, but also means limited potential for a short-squeeze-driven catalyst.
• Negative Sentiment: CEO Rajeev Goel sold 50,453 shares for approximately $930,858, reducing his ownership by 50%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, which somewhat reduces its significance as a discretionary bearish signal, but insider selling can still weigh on sentiment. PubMatic CEO SEC Form 4 filing

PubMatic Company Profile

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.