PubMatic (NASDAQ:PUBM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PubMatic (NASDAQ:PUBM) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other equities analysts have also issued research reports about the company. Raymond James Financial upgraded PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday. Lake Street Capital restated a “buy” rating and set a $20.00 price objective on shares of PubMatic in a research report on Friday. Rosenblatt Securities raised their price objective on PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research report on Friday, July 17th. Finally, Royal Bank Of Canada lifted their target price on PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PubMatic has a consensus rating of “Moderate Buy” and an average price target of $18.28.

PubMatic Trading Down 0.1%

Shares of PubMatic stock opened at $17.76 on Friday. The company has a market cap of $824.77 million, a PE ratio of -59.20 and a beta of 1.54. The company has a 50 day moving average of $12.75 and a 200-day moving average of $10.01. PubMatic has a 1-year low of $6.15 and a 1-year high of $18.44.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The business had revenue of $78.59 million for the quarter, compared to analysts’ expectations of $68.95 million. Research analysts forecast that PubMatic will post -0.26 earnings per share for the current year.

Insider Buying and Selling at PubMatic

In other news, CEO Rajeev K. Goel sold 211,302 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $17.74, for a total transaction of $3,748,497.48. Following the sale, the chief executive officer directly owned 31,692 shares in the company, valued at approximately $562,216.08. The trade was a 86.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Andrew Woods sold 38,331 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $17.96, for a total value of $688,424.76. Following the completion of the transaction, the general counsel directly owned 39,761 shares of the company’s stock, valued at $714,107.56. This represents a 49.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 573,917 shares of company stock worth $8,431,616. 27.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PubMatic

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in PubMatic by 55.7% in the 1st quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock valued at $1,000,000 after acquiring an additional 39,124 shares during the period. Creative Planning acquired a new position in shares of PubMatic during the second quarter worth $269,000. Rhumbline Advisers grew its stake in shares of PubMatic by 9.7% in the second quarter. Rhumbline Advisers now owns 65,840 shares of the company’s stock worth $819,000 after purchasing an additional 5,828 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of PubMatic by 15.0% in the second quarter. Hsbc Holdings PLC now owns 46,637 shares of the company’s stock worth $596,000 after purchasing an additional 6,066 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in PubMatic by 10.0% in the second quarter. Invesco Ltd. now owns 81,994 shares of the company’s stock valued at $1,020,000 after purchasing an additional 7,468 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

PubMatic Company Profile

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.