PubMatic’s (PUBM) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of PubMatic (NASDAQ:PUBM) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $26.00 price objective on the stock.

A number of other research analysts also recently commented on the company. B. Riley boosted their target price on PubMatic from $21.00 to $27.00 and gave the company a buy rating in a research note on Tuesday, February 27th. TheStreet raised PubMatic from a d rating to a c- rating in a research report on Friday, December 8th. Finally, JMP Securities boosted their price target on PubMatic from $18.00 to $25.00 and gave the stock a market outperform rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, PubMatic has an average rating of Moderate Buy and an average target price of $22.20.

PubMatic Trading Up 2.0 %

Shares of PUBM stock opened at $23.72 on Monday. PubMatic has a 1-year low of $10.92 and a 1-year high of $24.07. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 158.13 and a beta of 1.50. The stock’s fifty day simple moving average is $18.62 and its 200-day simple moving average is $15.77.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.15. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The business had revenue of $84.60 million for the quarter, compared to the consensus estimate of $78.19 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. PubMatic’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, sell-side analysts predict that PubMatic will post 0.17 EPS for the current year.

Insider Buying and Selling

In other PubMatic news, insider Mukul Kumar sold 3,466 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $15.97, for a total value of $55,352.02. Following the completion of the transaction, the insider now owns 24,582 shares of the company’s stock, valued at approximately $392,574.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Mukul Kumar sold 3,466 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $15.97, for a total value of $55,352.02. Following the completion of the transaction, the insider now directly owns 24,582 shares of the company’s stock, valued at approximately $392,574.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paulina Klimenko sold 2,083 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $17.00, for a total value of $35,411.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,153 shares of company stock valued at $3,312,918. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently bought and sold shares of PUBM. Ancora Advisors LLC acquired a new stake in shares of PubMatic in the 4th quarter valued at $26,000. Guinness Atkinson Asset Management Inc boosted its position in shares of PubMatic by 48.6% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock worth $37,000 after purchasing an additional 992 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in PubMatic by 225.7% during the third quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock worth $44,000 after acquiring an additional 2,546 shares in the last quarter. Lazard Asset Management LLC bought a new position in PubMatic during the second quarter worth about $46,000. Finally, Point72 Asset Management L.P. bought a new position in PubMatic during the fourth quarter worth about $65,000. 64.26% of the stock is owned by institutional investors and hedge funds.

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.