PubMatic, Inc. (NASDAQ:PUBM) Receives $19.89 Consensus Target Price from Analysts

PubMatic, Inc. (NASDAQ:PUBM) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $19.89.

PUBM has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Lake Street Capital dropped their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Scotiabank dropped their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th.

Insider Transactions at PubMatic

In related news, insider Mukul Kumar sold 7,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $16.52, for a total transaction of $115,640.00. Following the transaction, the insider now directly owns 44,888 shares of the company’s stock, valued at approximately $741,549.76. The trade was a 13.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Pantelick sold 10,040 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $148,993.60. Following the transaction, the chief financial officer now directly owns 38,285 shares in the company, valued at $568,149.40. The trade was a 20.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,811 shares of company stock valued at $1,554,021 over the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PubMatic by 17.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,246 shares of the company’s stock valued at $1,384,000 after purchasing an additional 13,926 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in PubMatic in the fourth quarter valued at about $57,000. ProShare Advisors LLC purchased a new position in PubMatic in the fourth quarter valued at about $173,000. Nuveen Asset Management LLC grew its stake in PubMatic by 1.1% in the fourth quarter. Nuveen Asset Management LLC now owns 436,076 shares of the company’s stock valued at $6,406,000 after purchasing an additional 4,603 shares in the last quarter. Finally, Millennium Management LLC grew its stake in PubMatic by 76.0% in the fourth quarter. Millennium Management LLC now owns 361,381 shares of the company’s stock valued at $5,309,000 after purchasing an additional 156,095 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

PubMatic Price Performance

NASDAQ:PUBM opened at $9.48 on Friday. PubMatic has a 12-month low of $9.07 and a 12-month high of $25.36. The firm has a market capitalization of $460.04 million, a P/E ratio of 30.58 and a beta of 1.48. The business has a 50 day simple moving average of $13.98 and a 200 day simple moving average of $14.82.

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

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.