PubMatic’s (PUBM) Buy Rating Reiterated at Rosenblatt Securities

PubMatic (NASDAQ:PUBM)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They currently have a $21.00 price target on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 120.59% from the stock’s current price.

Several other analysts have also commented on PUBM. B. Riley Financial raised PubMatic from a “neutral” rating to a “buy” rating and boosted their price target for the company from $10.00 to $10.50 in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research note on Tuesday. Lake Street Capital raised PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Wall Street Zen lowered PubMatic from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of PubMatic in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.63.

PubMatic Trading Up 0.5%

Shares of NASDAQ:PUBM opened at $9.52 on Thursday. The business’s 50 day moving average is $8.10 and its 200-day moving average is $8.29. The firm has a market capitalization of $451.25 million, a PE ratio of -30.71 and a beta of 1.48. PubMatic has a 1-year low of $6.15 and a 1-year high of $13.88.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.16 by $0.13. The business had revenue of $80.05 million for the quarter, compared to analyst estimates of $76.12 million. PubMatic had a negative return on equity of 5.64% and a negative net margin of 5.11%. On average, sell-side analysts predict that PubMatic will post -0.42 EPS for the current year.

Insiders Place Their Bets

In other PubMatic news, CFO Steven Pantelick sold 16,747 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $8.17, for a total value of $136,822.99. Following the transaction, the chief financial officer owned 57,601 shares of the company’s stock, valued at approximately $470,600.17. The trade was a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rajeev K. Goel sold 49,916 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $8.17, for a total value of $407,813.72. Following the completion of the transaction, the chief executive officer directly owned 47,740 shares in the company, valued at approximately $390,035.80. This represents a 51.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 367,474 shares of company stock worth $2,849,632. Insiders own 26.42% of the company’s stock.

Hedge Funds Weigh In On PubMatic

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in PubMatic by 10.1% in the third quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock worth $12,159,000 after purchasing an additional 135,070 shares in the last quarter. CenterBook Partners LP raised its position in shares of PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after acquiring an additional 398,595 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of PubMatic by 9.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after acquiring an additional 77,566 shares during the last quarter. Millennium Management LLC raised its position in shares of PubMatic by 320.0% during the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after acquiring an additional 699,549 shares during the last quarter. Finally, UBS Group AG raised its position in shares of PubMatic by 254.7% during the third quarter. UBS Group AG now owns 422,630 shares of the company’s stock worth $3,499,000 after acquiring an additional 303,479 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.