PubMatic (NASDAQ:PUBM) Stock Price Up 4.3% – Time to Buy?

PubMatic, Inc. (NASDAQ:PUBM)’s stock price rose 4.3% during mid-day trading on Tuesday . The stock traded as high as $10.35 and last traded at $10.33. Approximately 160,562 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 477,942 shares. The stock had previously closed at $9.90.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PUBM. Scotiabank cut their price objective on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Lake Street Capital cut their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Royal Bank of Canada reduced their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.89.

PubMatic Stock Up 5.6 %

The firm has a market capitalization of $507.11 million, a PE ratio of 33.71 and a beta of 1.48. The business’s 50-day moving average price is $13.39 and its 200-day moving average price is $14.58.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The firm had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. On average, analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In other PubMatic news, CFO Steven Pantelick sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total value of $60,560.00. Following the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at $340,740.84. This trade represents a 15.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mukul Kumar sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $16.51, for a total value of $115,570.00. Following the transaction, the insider now owns 52,005 shares of the company’s stock, valued at approximately $858,602.55. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,811 shares of company stock valued at $1,438,381 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PubMatic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in PubMatic by 99.2% in the 3rd quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock worth $1,072,000 after purchasing an additional 35,898 shares during the last quarter. Intech Investment Management LLC acquired a new stake in PubMatic during the third quarter worth about $170,000. Charles Schwab Investment Management Inc. increased its stake in PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after acquiring an additional 239,406 shares during the period. Pitcairn Co. raised its holdings in PubMatic by 45.6% in the 3rd quarter. Pitcairn Co. now owns 20,177 shares of the company’s stock valued at $300,000 after acquiring an additional 6,322 shares in the last quarter. Finally, FMR LLC raised its holdings in PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after acquiring an additional 2,709 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

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.