PubMatic (NASDAQ:PUBM) Sets New 1-Year High – Still a Buy?

PubMatic, Inc. (NASDAQ:PUBM)’s share price reached a new 52-week high on Thursday . The stock traded as high as $14.04 and last traded at $13.79, with a volume of 52236 shares changing hands. The stock had previously closed at $13.80.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PUBM shares. Wall Street Zen upgraded PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 price objective on shares of PubMatic in a research note on Thursday, April 23rd. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Royal Bank Of Canada raised their target price on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. One investment 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. Based on data from MarketBeat, PubMatic has a consensus rating of “Moderate Buy” and an average target price of $12.88.

PubMatic Trading Up 0.1%

The company has a market capitalization of $641.84 million, a PE ratio of -36.22 and a beta of 1.51. The firm has a 50 day simple moving average of $11.63 and a two-hundred day simple moving average of $9.37.

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

Insider Buying and Selling at PubMatic

In related news, Chairman Amar K. Goel sold 6,584 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total transaction of $89,871.60. Following the transaction, the chairman owned 35,580 shares of the company’s stock, valued at approximately $485,667. This represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Rajeev K. Goel sold 58,854 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $13.68, for a total value of $805,122.72. Following the transaction, the chief executive officer directly owned 47,301 shares in the company, valued at approximately $647,077.68. This represents a 55.44% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 318,305 shares of company stock worth $3,807,773. Corporate insiders own 27.78% of the company’s stock.

Institutional Trading of PubMatic

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC boosted its position in PubMatic by 55.7% during the 1st quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock worth $1,000,000 after purchasing an additional 39,124 shares during the period. Creative Planning bought a new stake in PubMatic in the second quarter valued at about $269,000. Rhumbline Advisers increased its holdings in shares of PubMatic by 9.7% in the 2nd quarter. Rhumbline Advisers now owns 65,840 shares of the company’s stock valued at $819,000 after acquiring an additional 5,828 shares during the last quarter. Hsbc Holdings PLC increased its stake in PubMatic by 15.0% during the second quarter. Hsbc Holdings PLC now owns 46,637 shares of the company’s stock valued at $596,000 after purchasing an additional 6,066 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of PubMatic by 10.0% during the 2nd quarter. Invesco Ltd. now owns 81,994 shares of the company’s stock valued at $1,020,000 after buying an additional 7,468 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

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.