PubMatic (NASDAQ:PUBM) Announces Earnings Results, Beats Estimates By $0.07 EPS

PubMatic (NASDAQ:PUBM) released its quarterly earnings data on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07, Briefing.com reports. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The firm had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $62.19 million. During the same quarter in the prior year, the business posted ($0.09) earnings per share. PubMatic’s revenue was up 20.4% compared to the same quarter last year.

PubMatic Stock Performance

PUBM stock traded down $1.08 during trading on Wednesday, hitting $22.94. The stock had a trading volume of 446,469 shares, compared to its average volume of 459,151. PubMatic has a 1-year low of $10.92 and a 1-year high of $25.36. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 157.54 and a beta of 1.52. The company’s 50 day moving average price is $22.60 and its two-hundred day moving average price is $17.96.

Analyst Upgrades and Downgrades

Several analysts recently commented on PUBM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 price objective on shares of PubMatic in a research note on Monday, March 25th. B. Riley initiated coverage on PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 price objective for the company. Finally, JMP Securities upped their target price on PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.20.

Insiders Place Their Bets

In other PubMatic news, CFO Steven Pantelick sold 8,876 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $23.71, for a total value of $210,449.96. Following the completion of the transaction, the chief financial officer now directly owns 16,833 shares in the company, valued at approximately $399,110.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PubMatic news, CFO Steven Pantelick sold 8,876 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $23.71, for a total value of $210,449.96. Following the sale, the chief financial officer now directly owns 16,833 shares of the company’s stock, valued at approximately $399,110.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Amar K. Goel sold 3,770 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $23.71, for a total transaction of $89,386.70. Following the transaction, the chairman now directly owns 2,640 shares of the company’s stock, valued at approximately $62,594.40. The disclosure for this sale can be found here. Insiders have sold 192,063 shares of company stock valued at $4,110,143 in the last ninety days. Insiders own 2.90% of the company’s stock.

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.