PubMatic, Inc. (NASDAQ:PUBM) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been given a consensus rating of “Moderate Buy” by the thirteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $19.73.

A number of brokerages have commented on PUBM. Evercore reiterated an “outperform” rating and issued a $21.00 price objective on shares of PubMatic in a report on Monday, August 10th. Scotiabank upgraded PubMatic from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $8.00 to $21.00 in a research note on Friday, August 7th. Weiss Ratings lowered PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Craig Hallum initiated coverage on PubMatic in a research report on Thursday, September 24th. They set a “buy” rating and a $24.00 target price on the stock. Finally, 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, August 7th.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $18.64 on Monday. The company has a market capitalization of $849.05 million, a price-to-earnings ratio of -62.13 and a beta of 1.56. The company has a 50 day moving average of $17.05 and a two-hundred day moving average of $13.09. PubMatic has a 52-week low of $6.15 and a 52-week high of $19.48.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. The business had revenue of $78.59 million for the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. On average, equities analysts anticipate that PubMatic will post -0.09 earnings per share for the current year.

Insider Activity

In other PubMatic news, General Counsel Andrew Woods sold 10,079 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $18.65, for a total value of $187,973.35. Following the transaction, the general counsel directly owned 39,761 shares of the company’s stock, valued at $741,542.65. This represents a 20.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajeev K. Goel sold 50,233 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $18.97, for a total value of $952,920.01. Following the transaction, the chief executive officer owned 47,424 shares of the company’s stock, valued at approximately $899,633.28. This trade represents a 51.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 602,909 shares of company stock worth $10,527,490 over the last quarter. Corporate insiders own 27.78% of the company’s stock.

Institutional Trading of PubMatic

A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after buying an additional 321,200 shares during the last quarter. CenterBook Partners LP boosted its stake in PubMatic by 53.3% during the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after acquiring an additional 398,595 shares during the last quarter. S Squared Technology LLC boosted its stake in PubMatic by 7.7% during the 4th quarter. S Squared Technology LLC now owns 280,972 shares of the company’s stock valued at $2,492,000 after acquiring an additional 20,000 shares during the last quarter. Pinnacle Holdings LLC bought a new position in PubMatic during the 2nd quarter valued at $2,076,000. Finally, Quantinno Capital Management LP boosted its stake in PubMatic by 248.0% during the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after acquiring an additional 147,386 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company’s platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.