PubMatic (NASDAQ:PUBM) Shares Up 5.7% – Should You Buy?

PubMatic, Inc. (NASDAQ:PUBM) shot up 5.7% during trading on Thursday . The company traded as high as $18.03 and last traded at $18.4490. 78,604 shares were traded during trading, a decline of 88% from the average daily volume of 682,028 shares. The stock had previously closed at $17.45.

Analysts Set New Price Targets

Several research firms have commented on PUBM. Evercore reissued an “outperform” rating and set a $21.00 price target on shares of PubMatic in a research note on Monday, August 10th. Weiss Ratings lowered shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Jefferies Financial Group increased their target price on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Wall Street Zen cut shares of PubMatic from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Finally, Citizens Jmp boosted their price target on shares of PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and a consensus price target of $19.73.

PubMatic Stock Up 6.3%

The stock has a market cap of $844.91 million, a P/E ratio of -61.97 and a beta of 1.58. The firm’s fifty day moving average price is $15.66 and its 200-day moving average price is $12.21.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $78.59 million during the quarter, compared to analyst estimates of $68.95 million. Sell-side analysts predict that PubMatic, Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling at PubMatic

In other PubMatic news, CFO Steven Pantelick sold 23,548 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total transaction of $321,430.20. Following the completion of the transaction, the chief financial officer owned 64,820 shares of the company’s stock, valued at $884,793. This represents a 26.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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, CEO Rajeev Goel sold 211,302 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $17.74, for a total value of $3,748,497.48. Following the transaction, the chief executive officer directly owned 31,692 shares of the company’s stock, valued at $562,216.08. The trade was a 86.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 546,626 shares of company stock worth $8,798,636. 27.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd increased its position in PubMatic by 28.0% during the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after purchasing an additional 3,700 shares during the period. Squarepoint Ops LLC lifted its position in shares of PubMatic by 168.8% in the 2nd quarter. Squarepoint Ops LLC now owns 62,137 shares of the company’s stock worth $815,000 after purchasing an additional 39,023 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of PubMatic during the 2nd quarter valued at about $872,000. Pinnacle Holdings LLC bought a new stake in shares of PubMatic during the 2nd quarter valued at about $2,076,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of PubMatic during the 2nd quarter valued at about $1,595,000. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.