PubMatic (NASDAQ:PUBM) Now Covered by Analysts at Wolfe Research

Equities researchers at Wolfe Research initiated coverage on shares of PubMatic (NASDAQ:PUBM) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $25.00 price target on the stock. Wolfe Research’s price objective would suggest a potential upside of 16.77% from the company’s current price.

Several other research analysts also recently commented on PUBM. B. Riley started coverage on PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 price objective on the stock. Royal Bank of Canada lifted their price target on PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.33.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $21.41 on Tuesday. The business’s 50 day moving average price is $21.47 and its 200-day moving average price is $20.15. PubMatic has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 101.96 and a beta of 1.44.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.07. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $62.19 million. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. PubMatic’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the business posted ($0.09) EPS. Sell-side analysts predict that PubMatic will post 0.24 earnings per share for the current year.

Insider Transactions at PubMatic

In other news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $21.28, for a total value of $532,000.00. Following the completion of the sale, the chief executive officer now owns 9,000 shares of the company’s stock, valued at approximately $191,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $21.28, for a total value of $532,000.00. Following the completion of the sale, the chief executive officer now owns 9,000 shares of the company’s stock, valued at approximately $191,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mukul Kumar sold 9,496 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $21.08, for a total value of $200,175.68. Following the completion of the sale, the insider now directly owns 30,958 shares of the company’s stock, valued at approximately $652,594.64. The disclosure for this sale can be found here. Insiders sold 102,024 shares of company stock valued at $2,149,674 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of PubMatic

A number of institutional investors have recently made changes to their positions in PUBM. Wellington Management Group LLP purchased a new stake in PubMatic during the 3rd quarter valued at about $3,701,000. Public Employees Retirement System of Ohio purchased a new position in shares of PubMatic in the third quarter worth about $142,000. Arizona State Retirement System raised its stake in shares of PubMatic by 9.0% in the fourth quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock worth $194,000 after purchasing an additional 984 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of PubMatic by 8.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock worth $7,113,000 after purchasing an additional 35,286 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of PubMatic by 7.7% in the fourth quarter. Strs Ohio now owns 33,700 shares of the company’s stock worth $549,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

About PubMatic

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.