PubMatic, Inc. (NASDAQ:PUBM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PubMatic, Inc. (NASDAQ:PUBM) have received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $12.8750.

A number of analysts recently issued reports on PUBM shares. Royal Bank Of Canada boosted their price objective on PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. B. Riley Financial restated a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Wall Street Zen upgraded PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research report on Friday, July 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of PubMatic in a report on Thursday, April 23rd.

PubMatic Trading Up 1.9%

PUBM opened at $13.03 on Wednesday. PubMatic has a 12 month low of $6.15 and a 12 month high of $14.04. The company has a market cap of $605.11 million, a PE ratio of -34.29 and a beta of 1.51. The company has a 50 day moving average of $12.16 and a 200 day moving average of $9.62.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $62.57 million for the quarter, compared to analysts’ expectations of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. Research analysts forecast that PubMatic will post -0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at PubMatic

In other PubMatic news, General Counsel Andrew Woods sold 5,758 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total value of $78,596.70. Following the completion of the transaction, the general counsel directly owned 81,331 shares of the company’s stock, valued at $1,110,168.15. This trade represents a 6.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mukul Kumar sold 7,897 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total transaction of $107,794.05. Following the transaction, the insider owned 112,945 shares of the company’s stock, valued at $1,541,699.25. This trade represents a 6.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 324,284 shares of company stock worth $3,994,693 in the last ninety days. Insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On PubMatic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its stake in PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of PubMatic by 10.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after acquiring an additional 135,070 shares during the last quarter. CenterBook Partners LP boosted its position in shares of PubMatic by 53.3% during the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after acquiring an additional 398,595 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of PubMatic by 9.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after purchasing an additional 77,566 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of PubMatic by 320.0% during the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.