PubMatic (NASDAQ:PUBM) Issues Earnings Results

PubMatic (NASDAQ:PUBM) announced its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07, Briefing.com reports. The business had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $62.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) earnings per share.

PubMatic Price Performance

Shares of PUBM traded down $1.08 during trading hours on Wednesday, reaching $22.94. 446,469 shares of the company’s stock traded hands, compared to its average volume of 459,151. PubMatic has a twelve month low of $10.92 and a twelve month high of $25.36. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 157.54 and a beta of 1.52. The business’s fifty day simple moving average is $22.60 and its two-hundred day simple moving average is $17.96.

Insider Buying and Selling

In related news, insider Paulina Klimenko sold 2,083 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $17.00, for a total value of $35,411.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PubMatic news, insider Paulina Klimenko sold 2,083 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $17.00, for a total value of $35,411.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $21.64, for a total value of $151,480.00. Following the completion of the sale, the insider now directly owns 30,958 shares of the company’s stock, valued at approximately $669,931.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,063 shares of company stock worth $4,110,143. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PUBM shares. JMP Securities lifted their price objective on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 27th. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price objective on shares of PubMatic in a research note on Monday, March 25th. Finally, B. Riley initiated coverage on PubMatic in a research report on Friday, April 19th. They issued a “buy” rating and a $27.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, PubMatic presently has an average rating of “Moderate Buy” and an average price target of $22.20.

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.