PubMatic (NASDAQ:PUBM) Research Coverage Started at B. Riley

B. Riley started coverage on shares of PubMatic (NASDAQ:PUBM) in a research note issued to investors on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $27.00 target price on the stock. B. Riley also issued estimates for PubMatic’s Q2 2024 earnings at ($0.03) EPS and Q3 2024 earnings at ($0.03) EPS.

Several other research firms have also recently commented on PUBM. JMP Securities raised their target price on shares of PubMatic from $18.00 to $25.00 and gave the stock a market outperform rating in a research report on Tuesday, February 27th. Royal Bank of Canada reissued an outperform rating and set a $26.00 price target on shares of PubMatic in a research report on Monday, March 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, PubMatic presently has an average rating of Moderate Buy and a consensus price target of $22.20.

PubMatic Trading Up 2.6 %

NASDAQ:PUBM opened at $22.17 on Friday. The company has a 50-day moving average price of $21.18 and a 200-day moving average price of $17.11. PubMatic has a 12 month low of $10.92 and a 12 month high of $24.18. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 147.80 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Monday, February 26th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.19 by $0.15. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The firm had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $78.19 million. During the same period last year, the company posted $0.24 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities analysts forecast that PubMatic will post 0.17 EPS for the current fiscal year.

Insider Activity at PubMatic

In other PubMatic news, insider Paulina Klimenko sold 2,083 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other PubMatic news, insider Mukul Kumar sold 7,000 shares of the firm’s 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 sale, the insider now directly owns 30,958 shares in the company, valued at approximately $669,931.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paulina Klimenko sold 2,083 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold a total of 184,563 shares of company stock valued at $3,940,568 in the last three months. Company insiders own 2.00% of the company’s stock.

Institutional Trading of PubMatic

Institutional investors and hedge funds have recently bought and sold shares of the company. Guinness Atkinson Asset Management Inc grew its stake in shares of PubMatic by 48.6% in the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock worth $37,000 after acquiring an additional 992 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of PubMatic in the third quarter worth approximately $68,000. TFC Financial Management Inc. grew its stake in shares of PubMatic by 76.9% in the third quarter. TFC Financial Management Inc. now owns 5,750 shares of the company’s stock worth $70,000 after acquiring an additional 2,500 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of PubMatic in the third quarter worth approximately $142,000. Finally, Quantbot Technologies LP bought a new stake in shares of PubMatic in the third quarter worth approximately $154,000. 64.26% of the stock is currently owned by institutional investors.

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.