PubMatic, Inc. (NASDAQ:PUBM) Stock Has Consensus Price Target of $19.73

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $19.73.

Several equities research analysts recently issued reports on PUBM shares. Wall Street Zen cut PubMatic from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Raymond James Financial raised shares of PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Friday, August 7th. Weiss Ratings cut shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Craig Hallum started coverage on shares of PubMatic in a research note on Thursday, September 24th. They issued a “buy” rating and a $24.00 price target on the stock. Finally, B. Riley Financial boosted their price target on shares of PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, September 18th.

Insiders Place Their Bets

In related news, insider Mukul Kumar sold 8,000 shares of PubMatic stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $17.12, for a total transaction of $136,960.00. Following the transaction, the insider owned 117,041 shares in the company, valued at approximately $2,003,741.92. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Andrew Woods sold 10,079 shares of PubMatic stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $18.65, for a total value of $187,973.35. Following the transaction, the general counsel owned 39,761 shares in the company, valued at approximately $741,542.65. The trade was a 20.22% decrease in their position. 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. Over the last ninety days, insiders sold 400,149 shares of company stock valued at $7,170,140. Insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PUBM. Renaissance Technologies LLC lifted its holdings in PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Quantinno Capital Management LP boosted its stake in PubMatic by 248.0% during the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock worth $1,692,000 after buying an additional 147,386 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of PubMatic during the 1st quarter worth approximately $1,687,000. Avestar Capital LLC grew its stake in shares of PubMatic by 250.3% in the third quarter. Avestar Capital LLC now owns 192,688 shares of the company’s stock valued at $3,609,000 after buying an additional 137,688 shares in the last quarter. Finally, Pinnacle Holdings LLC acquired a new position in PubMatic in the 2nd quarter valued at about $2,076,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Stock Performance

NASDAQ:PUBM opened at $16.78 on Friday. The stock has a market capitalization of $764.33 million, a PE ratio of -55.93 and a beta of 1.59. PubMatic has a fifty-two week low of $6.15 and a fifty-two week high of $19.48. The company has a fifty day moving average of $17.36 and a two-hundred day moving average of $12.25.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The business had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. Research analysts forecast that PubMatic will post -0.09 earnings per share for the current year.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.

The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.