Brokerages Set PubMatic, Inc. (NASDAQ:PUBM) Price Target at $18.25

PubMatic, Inc. (NASDAQ:PUBM) has received an average rating of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.25.

PUBM has been the subject of several analyst reports. Raymond James Financial upgraded PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, August 7th. Scotiabank upgraded PubMatic from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. Evercore reissued an “outperform” rating and set a $21.00 target price on shares of PubMatic in a research note on Monday, August 10th. Citigroup reiterated an “outperform” rating on shares of PubMatic in a research report on Friday, August 7th. Finally, Wall Street Zen raised PubMatic from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th.

Insider Buying and Selling

In other PubMatic news, CFO Steven Pantelick sold 19,716 shares of PubMatic stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $17.31, for a total transaction of $341,283.96. Following the completion of the sale, the chief financial officer directly owned 10,353 shares of the company’s stock, valued at $179,210.43. The trade was a 65.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Andrew Woods sold 38,331 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $17.96, for a total value of $688,424.76. Following the completion of the sale, the general counsel directly owned 39,761 shares of the company’s stock, valued at $714,107.56. The trade was a 49.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 621,473 shares of company stock worth $9,272,736 over the last 90 days. 27.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PubMatic

Several hedge funds have recently modified their holdings of PUBM. Millennium Management LLC boosted its holdings in PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after purchasing an additional 699,549 shares during the period. Simcoe Capital LLC bought a new stake in PubMatic during the 4th quarter worth approximately $3,625,000. CenterBook Partners LP lifted its stake in shares of PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after acquiring an additional 398,595 shares during the period. Renaissance Technologies LLC grew its holdings in PubMatic by 26.3% during 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 period. Finally, UBS Group AG grew its position in shares of PubMatic by 254.7% during the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock worth $3,499,000 after buying an additional 303,479 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

PubMatic Stock Down 2.3%

Shares of PubMatic stock opened at $16.39 on Friday. The firm has a market cap of $746.56 million, a price-to-earnings ratio of -54.63 and a beta of 1.54. PubMatic has a twelve month low of $6.15 and a twelve month high of $18.44. The business has a 50-day moving average price of $13.66 and a 200-day moving average price of $10.55.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. The company had revenue of $78.59 million during the quarter, compared to the consensus estimate of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. On average, equities analysts expect that PubMatic will post -0.09 EPS for the current fiscal year.

PubMatic Company Profile

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.