PubMatic, Inc. (NASDAQ:PUBM) Stock Has Average Target Price of $19.73 According to Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $19.73.

PUBM has been the subject of several research analyst reports. Craig Hallum began coverage on PubMatic in a research note on Thursday, September 24th. They set a “buy” rating and a $24.00 price target for the company. B. Riley Financial upped their target price on PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Weiss Ratings cut PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Raymond James Financial raised PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, August 7th. Finally, Rosenblatt Securities boosted their price target on PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 7th.

Insider Transactions at PubMatic

In related news, General Counsel Andrew Woods sold 38,331 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $17.96, for a total value of $688,424.76. Following the sale, the general counsel owned 39,761 shares of the company’s stock, valued at approximately $714,107.56. This represents a 49.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajeev K. Goel sold 211,302 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $17.74, for a total value of $3,748,497.48. Following the completion of the sale, the chief executive officer directly owned 31,692 shares in the company, valued at approximately $562,216.08. This trade represents a 86.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 610,951 shares of company stock valued at $10,910,572. 27.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PubMatic

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of PubMatic in the third quarter worth $39,000. Versant Capital Management Inc boosted its holdings in PubMatic by 30.4% in the second quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after acquiring an additional 2,482 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in shares of PubMatic by 28.0% during the second quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after purchasing an additional 3,700 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in PubMatic by 12.2% in the 4th quarter. Hsbc Holdings PLC now owns 64,590 shares of the company’s stock worth $573,000 after buying an additional 7,034 shares during the period. Finally, State of Wyoming purchased a new stake in shares of PubMatic in the first quarter valued at $61,000. 64.26% of the stock is owned by institutional investors.

PubMatic Price Performance

NASDAQ:PUBM opened at $15.89 on Friday. The stock has a market cap of $723.79 million, a PE ratio of -52.96 and a beta of 1.59. PubMatic has a fifty-two week low of $6.15 and a fifty-two week high of $19.48. The firm’s fifty day simple moving average is $17.38 and its 200-day simple moving average is $12.09.

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

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.

The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.