B. Riley Comments on PubMatic, Inc.’s Q2 2024 Earnings (NASDAQ:PUBM)

PubMatic, Inc. (NASDAQ:PUBM) – Equities researchers at B. Riley issued their Q2 2024 earnings estimates for shares of PubMatic in a note issued to investors on Thursday, April 18th. B. Riley analyst Z. Cummins anticipates that the company will post earnings per share of ($0.03) for the quarter. B. Riley has a “Buy” rating and a $27.00 price objective on the stock. The consensus estimate for PubMatic’s current full-year earnings is $0.17 per share. B. Riley also issued estimates for PubMatic’s Q3 2024 earnings at ($0.03) EPS.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price objective on shares of PubMatic in a research report on Monday, March 25th. JMP Securities raised their price objective on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

PubMatic Price Performance

PubMatic stock opened at $22.84 on Monday. The business has a 50 day simple moving average of $21.33 and a 200-day simple moving average of $17.19. PubMatic has a 12 month low of $10.92 and a 12 month high of $24.18. The stock has a market capitalization of $1.14 billion, a PE ratio of 152.28 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.19 by $0.15. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The firm had revenue of $84.60 million during the quarter, compared to the consensus estimate of $78.19 million. During the same period in the prior year, the business earned $0.24 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year.

Institutional Trading of PubMatic

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in shares of PubMatic by 68.3% during the third quarter. SG Americas Securities LLC now owns 16,838 shares of the company’s stock worth $204,000 after purchasing an additional 6,834 shares during the last quarter. TFC Financial Management Inc. raised its stake in PubMatic by 76.9% during the third quarter. TFC Financial Management Inc. now owns 5,750 shares of the company’s stock worth $70,000 after purchasing an additional 2,500 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of PubMatic by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 174,092 shares of the company’s stock valued at $2,107,000 after purchasing an additional 1,489 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of PubMatic by 47.7% during the 3rd quarter. Principal Financial Group Inc. now owns 21,608 shares of the company’s stock valued at $261,000 after buying an additional 6,981 shares during the period. Finally, Guinness Atkinson Asset Management Inc increased its holdings in shares of 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 buying an additional 992 shares during the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PubMatic

In related news, Chairman Amar K. Goel sold 3,770 shares of PubMatic stock in a transaction on Monday, April 8th. The stock was sold at an average price of $23.71, for a total transaction of $89,386.70. Following the completion of the transaction, the chairman now directly owns 2,640 shares of the company’s stock, valued at $62,594.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other PubMatic news, Chairman Amar K. Goel sold 3,770 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $23.71, for a total transaction of $89,386.70. Following the completion of the transaction, the chairman now directly owns 2,640 shares in the company, valued at approximately $62,594.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paulina Klimenko sold 2,083 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $17.00, for a total transaction of $35,411.00. 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 quarter. 2.00% of the stock is currently owned by corporate insiders.

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.