Royal Bank of Canada Increases PubMatic (NASDAQ:PUBM) Price Target to $30.00

PubMatic (NASDAQ:PUBM) had its target price hoisted by Royal Bank of Canada from $26.00 to $30.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 30.78% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. B. Riley assumed coverage on PubMatic in a report on Friday, April 19th. They issued a “buy” rating and a $27.00 price target for the company. JMP Securities increased their price objective on PubMatic from $18.00 to $25.00 and gave the stock 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 a consensus rating of “Moderate Buy” and an average target price of $23.00.

PubMatic Trading Down 4.5 %

NASDAQ PUBM traded down $1.08 on Wednesday, hitting $22.94. 686,142 shares of the company were exchanged, compared to its average volume of 461,394. The company has a market cap of $1.15 billion, a P/E ratio of 152.34 and a beta of 1.52. PubMatic has a 1-year low of $10.92 and a 1-year high of $25.36. The firm has a 50 day moving average of $22.60 and a two-hundred day moving average of $17.96.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The business had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $62.19 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts anticipate that PubMatic will post 0.18 EPS for the current fiscal year.

Insider Transactions at PubMatic

In other PubMatic news, insider Paulina Klimenko sold 2,083 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $17.00, for a total value of $35,411.00. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Paulina Klimenko sold 2,083 shares of PubMatic 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $210,449.96. Following the sale, the chief financial officer now directly owns 16,833 shares in the company, valued at approximately $399,110.43. The disclosure for this sale can be found here. Insiders sold a total of 192,063 shares of company stock worth $4,110,143 over the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional Trading of PubMatic

Several institutional investors have recently added to or reduced their stakes in the stock. Guinness Atkinson Asset Management Inc raised its holdings in shares of PubMatic by 48.6% during the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after purchasing an additional 992 shares during the period. SG Americas Securities LLC acquired a new stake in PubMatic in the first quarter valued at approximately $107,000. DekaBank Deutsche Girozentrale acquired a new position in shares of PubMatic during the third quarter worth approximately $68,000. Cornerstone Investment Partners LLC bought a new stake in PubMatic during the 1st quarter valued at $222,000. Finally, SVB Wealth LLC bought a new stake in shares of PubMatic during the fourth quarter worth about $163,000. 64.26% of the stock is currently owned by institutional investors.

About PubMatic

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.