PubMatic, Inc. (NASDAQ:PUBM) Receives $12.88 Average PT from Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $12.8750.

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

Insider Buying and Selling

In other news, CFO Steven Pantelick sold 12,548 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.42, for a total value of $168,394.16. Following the completion of the sale, the chief financial officer owned 52,272 shares of the company’s stock, valued at approximately $701,490.24. The trade was a 19.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Amar K. Goel sold 6,584 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total value of $89,871.60. Following the sale, the chairman owned 35,580 shares of the company’s stock, valued at $485,667. This represents a 15.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 318,305 shares of company stock worth $3,807,773 in the last 90 days. 27.78% of the stock is currently owned by company insiders.

Institutional Trading of PubMatic

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

PubMatic Stock Up 1.8%

Shares of PUBM stock opened at $12.52 on Wednesday. The company has a 50 day moving average of $12.04 and a 200-day moving average of $9.56. PubMatic has a 12-month low of $6.15 and a 12-month high of $14.04. The firm has a market cap of $581.43 million, a P/E ratio of -32.95 and a beta of 1.51.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The firm had revenue of $62.57 million during the quarter, compared to analyst estimates 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, equities analysts expect that PubMatic will post -0.26 EPS for the current year.

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.