PubMatic (NASDAQ:PUBM) Trading Up 6.3% – Still a Buy?

PubMatic, Inc. (NASDAQ:PUBM) shares traded up 6.3% during mid-day trading on Friday . The stock traded as high as $12.13 and last traded at $12.2370. 53,306 shares were traded during mid-day trading, a decline of 92% from the average session volume of 692,594 shares. The stock had previously closed at $11.51.

Wall Street Analyst Weigh In

Several brokerages recently commented on PUBM. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price target on shares of PubMatic in a report on Thursday, April 23rd. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Royal Bank Of Canada upped their price objective on PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.88.

PubMatic Stock Performance

The stock has a fifty day moving average price of $10.60 and a 200-day moving average price of $8.93. The firm has a market cap of $576.32 million, a PE ratio of -32.66 and a beta of 1.57.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.05. The firm had revenue of $62.57 million for the quarter, compared to analyst estimates of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. As a group, equities analysts predict that PubMatic, Inc. will post -0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Rajeev K. Goel sold 49,916 shares of the 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 sale, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mukul Kumar sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $11.96, for a total value of $95,680.00. Following the transaction, the insider owned 100,869 shares in the company, valued at approximately $1,206,393.24. This represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 332,953 shares of company stock valued at $3,224,258. Company insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in PubMatic during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd grew its position in PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after acquiring an additional 1,915 shares in the last quarter. State of Wyoming purchased a new stake in shares of PubMatic during the first quarter valued at approximately $61,000. Tower Research Capital LLC TRC raised its stake in shares of PubMatic by 264.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after purchasing an additional 3,541 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of PubMatic by 120.8% in the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after purchasing an additional 4,856 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

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.