PubMatic, Inc. (NASDAQ:PUBM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PubMatic, Inc. (NASDAQ:PUBM) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.00.

PUBM has been the topic of several research analyst reports. Royal Bank of Canada lowered their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Macquarie dropped their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Jefferies Financial Group dropped their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Wolfe Research initiated coverage on PubMatic in a research note on Tuesday, July 16th. They set an “outperform” rating and a $25.00 target price for the company.

PubMatic Trading Down 1.1 %

PUBM opened at $14.52 on Friday. The business’s 50 day moving average is $17.16 and its 200-day moving average is $20.40. The stock has a market cap of $719.90 million, a PE ratio of 69.15 and a beta of 1.40. PubMatic has a twelve month low of $10.92 and a twelve month high of $25.36.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS. As a group, analysts forecast that PubMatic will post 0.2 EPS for the current year.

Insider Transactions at PubMatic

In related news, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.08, for a total transaction of $502,000.00. Following the transaction, the chief executive officer now directly owns 22,711 shares of the company’s stock, valued at $456,036.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Steven Pantelick sold 7,846 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $20.64, for a total transaction of $161,941.44. Following the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at $464,523.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.08, for a total transaction of $502,000.00. Following the completion of the sale, the chief executive officer now owns 22,711 shares of the company’s stock, valued at approximately $456,036.88. The disclosure for this sale can be found here. Insiders sold a total of 119,062 shares of company stock valued at $2,182,046 over the last quarter. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

A number of hedge funds have recently modified their holdings of the stock. Redwood Wealth Management Group LLC acquired a new stake in PubMatic during the second quarter valued at $29,000. Headlands Technologies LLC bought a new stake in shares of PubMatic in the 2nd quarter valued at approximately $38,000. SG Americas Securities LLC acquired a new position in PubMatic in the first quarter worth approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PubMatic by 56.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after buying an additional 3,280 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in PubMatic in the first quarter valued at approximately $222,000. 64.26% of the stock is owned by institutional investors and hedge funds.

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.