PubMatic (NASDAQ:PUBM) Hits New 12-Month High – Should You Buy?

PubMatic, Inc. (NASDAQ:PUBM) shares reached a new 52-week high on Wednesday . The stock traded as high as $13.88 and last traded at $13.8530, with a volume of 99382 shares trading hands. The stock had previously closed at $13.12.

Analyst Ratings Changes

A number of brokerages recently issued reports on PUBM. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 target price on shares of PubMatic in a research report on Thursday, April 23rd. Royal Bank Of Canada raised their price target on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PubMatic has a consensus rating of “Moderate Buy” and an average target price of $12.88.

PubMatic Trading Up 5.4%

The stock has a market cap of $641.94 million, a P/E ratio of -36.25 and a beta of 1.57. The company’s fifty day simple moving average is $10.79 and its 200-day simple moving average is $9.01.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The company had revenue of $62.57 million during the quarter, compared to the consensus estimate of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. As a group, analysts expect that PubMatic, Inc. will post -0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PubMatic news, CFO Steven Pantelick sold 16,747 shares of PubMatic stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $8.17, for a total transaction of $136,822.99. Following the sale, the chief financial officer directly owned 57,601 shares of the company’s stock, valued at approximately $470,600.17. The trade was a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajeev K. Goel sold 49,916 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $8.17, for a total value of $407,813.72. Following the completion of the sale, the chief executive officer owned 47,740 shares in the company, valued at approximately $390,035.80. This represents a 51.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 332,953 shares of company stock worth $3,224,258 over the last quarter. Company insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PUBM. Millennium Management LLC boosted its stake in shares of 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 in the last quarter. Simcoe Capital LLC bought a new stake in PubMatic during the 4th quarter worth approximately $3,625,000. CenterBook Partners LP increased its holdings in 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 purchasing an additional 398,595 shares in the last quarter. Renaissance Technologies LLC raised its position in PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after purchasing an additional 321,200 shares during the last quarter. Finally, UBS Group AG raised its position in PubMatic by 254.7% in the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock valued at $3,499,000 after purchasing an additional 303,479 shares during the last quarter. 64.26% of the stock is owned by institutional investors.

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.