Analysts Set PubMatic, Inc. (NASDAQ:PUBM) PT at $22.20

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $22.20.

PUBM has been the subject of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price target on shares of PubMatic in a research report on Monday, March 25th. JMP Securities increased their price target on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 27th. Finally, B. Riley initiated coverage on shares of PubMatic in a research report on Friday, April 19th. They set a “buy” rating and a $27.00 price target for the company.

Insiders Place Their Bets

In other PubMatic news, insider Paulina Klimenko sold 2,083 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $17.00, for a total transaction of $35,411.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PubMatic news, insider Mukul Kumar sold 7,000 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $21.64, for a total transaction of $151,480.00. Following the completion of the transaction, the insider now owns 30,958 shares in the company, valued at $669,931.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paulina Klimenko sold 2,083 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $17.00, for a total transaction of $35,411.00. The disclosure for this sale can be found here. Insiders sold 184,563 shares of company stock worth $3,940,568 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PubMatic

A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of PubMatic by 17.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after acquiring an additional 228,190 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PubMatic by 8.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock valued at $7,113,000 after acquiring an additional 35,286 shares during the period. Wellington Management Group LLP boosted its position in shares of PubMatic by 5.7% in the fourth quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock valued at $5,275,000 after acquiring an additional 17,497 shares during the period. Merit Financial Group LLC boosted its position in shares of PubMatic by 9.1% in the fourth quarter. Merit Financial Group LLC now owns 175,896 shares of the company’s stock valued at $2,869,000 after acquiring an additional 14,703 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of PubMatic by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 174,092 shares of the company’s stock valued at $2,107,000 after acquiring an additional 1,489 shares during the period. 64.26% of the stock is currently owned by institutional investors.

PubMatic Price Performance

NASDAQ PUBM opened at $23.34 on Thursday. PubMatic has a 1 year low of $10.92 and a 1 year high of $24.18. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 155.61 and a beta of 1.52. The company has a fifty day moving average price of $21.49 and a 200-day moving average price of $17.23.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Monday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.15. The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $78.19 million. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. On average, research analysts anticipate that PubMatic will post 0.18 EPS for the current fiscal year.

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.