PubMatic, Inc. (NASDAQ:PUBM) Receives $18.25 Consensus PT from Analysts

PubMatic, Inc. (NASDAQ:PUBM) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $18.25.

A number of equities research analysts recently weighed in on PUBM shares. Jefferies Financial Group boosted their price target on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Rosenblatt Securities raised their price target on PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Citigroup restated an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. Evercore restated an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a research note on Monday, August 10th. Finally, Weiss Ratings cut shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th.

PubMatic Trading Up 0.5%

PUBM opened at $17.36 on Friday. The firm has a 50-day moving average price of $13.45 and a two-hundred day moving average price of $10.42. PubMatic has a 1-year low of $6.15 and a 1-year high of $18.44. The stock has a market capitalization of $790.75 million, a PE ratio of -57.86 and a beta of 1.54.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.15. The firm had revenue of $78.59 million for 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, research analysts predict that PubMatic will post -0.26 EPS for the current year.

Insider Activity

In other PubMatic news, CFO Steven Pantelick sold 19,716 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $17.31, for a total value of $341,283.96. Following the completion of the sale, the chief financial officer owned 10,353 shares in the company, valued at $179,210.43. This trade represents a 65.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajeev K. Goel sold 211,302 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $17.74, for a total transaction of $3,748,497.48. Following the completion of the sale, the chief executive officer owned 31,692 shares of the company’s stock, valued at $562,216.08. This trade represents a 86.96% 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. In the last ninety days, insiders have sold 621,473 shares of company stock worth $9,272,736. 27.78% of the stock is owned by insiders.

Institutional Investors Weigh In On PubMatic

A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after purchasing an additional 321,200 shares during the period. Wellington Management Group LLP lifted its holdings in PubMatic by 10.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock worth $12,159,000 after purchasing an additional 135,070 shares during the last quarter. CenterBook Partners LP boosted its stake in PubMatic by 53.3% in 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 during the period. Jacobs Levy Equity Management Inc. boosted its stake in PubMatic by 9.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after purchasing an additional 77,566 shares during the period. 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 valued at $8,144,000 after buying an additional 699,549 shares in the last quarter. 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.