PubMatic (NASDAQ:PUBM) Coverage Initiated by Analysts at B. Riley

B. Riley assumed coverage on shares of PubMatic (NASDAQ:PUBM) in a research note published on Friday, MarketBeat Ratings reports. The firm issued a buy rating and a $27.00 target price on the stock. B. Riley also issued estimates for PubMatic’s Q2 2024 earnings at ($0.03) EPS and Q3 2024 earnings at ($0.03) EPS.

A number of other brokerages have also issued reports on PUBM. JMP Securities raised their price target on PubMatic from $18.00 to $25.00 and gave the stock a market outperform rating in a research note on Tuesday, February 27th. Royal Bank of Canada reissued an outperform rating and issued a $26.00 price target on shares of PubMatic in a research note on Monday, March 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $22.20.

PubMatic Trading Up 0.3 %

PubMatic stock opened at $21.61 on Friday. The stock has a market cap of $1.08 billion, a PE ratio of 144.08 and a beta of 1.52. The stock has a 50-day moving average price of $21.05 and a 200 day moving average price of $16.97. PubMatic has a 52 week low of $10.92 and a 52 week high of $24.18.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.15. The firm had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $78.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. On average, equities analysts predict that PubMatic will post 0.17 EPS for the current year.

Insider Activity

In other news, insider Paulina Klimenko sold 24,275 shares of PubMatic stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.27, for a total value of $492,054.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, General Counsel Andrew Woods sold 3,220 shares of PubMatic stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.16, for a total value of $74,575.20. Following the transaction, the general counsel now directly owns 21,153 shares of the company’s stock, valued at approximately $489,903.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paulina Klimenko sold 24,275 shares of PubMatic stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $20.27, for a total value of $492,054.25. The disclosure for this sale can be found here. Insiders have sold 184,563 shares of company stock valued at $3,940,568 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ancora Advisors LLC acquired a new position in PubMatic during the 4th quarter worth approximately $26,000. Lazard Asset Management LLC acquired a new position in PubMatic during the 2nd quarter worth approximately $46,000. Guinness Atkinson Asset Management Inc lifted its position in PubMatic by 48.6% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock worth $37,000 after acquiring an additional 992 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in PubMatic by 225.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock worth $44,000 after acquiring an additional 2,546 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in PubMatic during the 4th quarter worth approximately $65,000. 64.26% of the stock is owned by institutional investors and hedge funds.

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.