PubMatic (NASDAQ:PUBM) Price Target Raised to $21.00

PubMatic (NASDAQ:PUBM) had its price target boosted by B. Riley Financial from $17.00 to $21.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on PUBM. Jefferies Financial Group boosted their price target on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings lowered shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Lake Street Capital reaffirmed a “buy” rating and set a $20.00 target price on shares of PubMatic in a report on Friday, August 7th. Raymond James Financial upgraded shares of PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, August 7th. Finally, Citigroup reissued an “outperform” rating on shares of PubMatic in a research note on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.30.

PubMatic Price Performance

PubMatic stock opened at $17.55 on Friday. The business’s 50-day simple moving average is $15.42 and its 200 day simple moving average is $12.02. The stock has a market cap of $799.40 million, a price-to-earnings ratio of -58.50 and a beta of 1.58. PubMatic has a 12-month low of $6.15 and a 12-month high of $19.19.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The firm had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. As a group, sell-side analysts expect that PubMatic will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, CFO Steven Pantelick sold 23,548 shares of the business’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 $321,430.20. Following the completion of the transaction, the chief financial officer owned 64,820 shares in the company, valued at approximately $884,793. The trade was a 26.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, CEO Rajeev Goel sold 211,302 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $17.74, for a total transaction of $3,748,497.48. Following the completion of the sale, the chief executive officer directly owned 31,692 shares of the company’s stock, valued at $562,216.08. The trade was a 86.96% 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. Insiders have sold 546,626 shares of company stock valued at $8,798,636 in the last 90 days. 27.78% of the stock is owned by insiders.

Institutional Trading of PubMatic

A number of large investors have recently made changes to their positions in PUBM. Renaissance Technologies LLC lifted its holdings in PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after acquiring an additional 321,200 shares in the last quarter. CenterBook Partners LP increased its holdings in shares of PubMatic by 53.3% in 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 in the last quarter. S Squared Technology LLC increased its holdings in shares of PubMatic by 7.7% in the fourth quarter. S Squared Technology LLC now owns 280,972 shares of the company’s stock worth $2,492,000 after acquiring an additional 20,000 shares in the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of PubMatic during the second quarter worth about $2,076,000. Finally, Quantinno Capital Management LP raised its position in shares of PubMatic by 248.0% during the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock worth $1,692,000 after purchasing an additional 147,386 shares during the period. Institutional investors own 64.26% of the company’s stock.

About PubMatic

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.