PubMatic (NASDAQ:PUBM) Given New $22.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised PubMatic’s price target to $22 from $20 and maintained an “outperform” rating, implying about 30% upside from the stock’s cited price. Analysts’ consensus rating was “Moderate Buy,” with an average target of $20.73.
• PubMatic’s latest quarter beat expectations, reporting revenue of $79.58 million and earnings of $0.25 per share. The company also forecast 2026 revenue above consensus, while raising its expected capital spending.
• Shares fell 11.1% to $16.92 in Tuesday trading, despite the positive analyst action and earnings results.

PubMatic (NASDAQ:PUBM - Get Free Report) had its price objective boosted by investment analysts at Royal Bank Of Canada from $20.00 to $22.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 30.05% from the company's current price.

PUBM has been the subject of several other research reports. Citizens Jmp increased their price target on shares of PubMatic from $12.00 to $20.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. UBS Group reiterated a "buy" rating on shares of PubMatic in a research report on Tuesday. B. Riley Financial increased their price target on shares of PubMatic from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, September 18th. Evercore reaffirmed an "outperform" rating and issued a $21.00 price target on shares of PubMatic in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of PubMatic in a research report on Wednesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, PubMatic has an average rating of "Moderate Buy" and a consensus target price of $20.73.

PubMatic Trading Down 11.1%

NASDAQ PUBM traded down $2.11 during mid-day trading on Tuesday, hitting $16.92. The company's stock had a trading volume of 336,516 shares, compared to its average volume of 673,647. The company's 50 day simple moving average is $17.43 and its 200 day simple moving average is $12.36. The firm has a market capitalization of $770.57 million, a price-to-earnings ratio of -55.68 and a beta of 1.59. PubMatic has a twelve month low of $6.15 and a twelve month high of $19.48.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.27. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The business had revenue of $79.58 million for the quarter, compared to analysts' expectations of $76.09 million. As a group, research analysts forecast that PubMatic will post -0.09 EPS for the current year.

Insiders Place Their Bets

In other PubMatic news, CFO Steven Pantelick sold 23,491 shares of PubMatic stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $18.97, for a total value of $445,624.27. Following the completion of the transaction, the chief financial officer directly owned 32,526 shares of the company's stock, valued at $617,018.22. This trade represents a 41.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Rajeev K. Goel sold 50,453 shares of the stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $18.45, for a total value of $930,857.85. Following the sale, the chief executive officer owned 50,453 shares in the company, valued at $930,857.85. The trade was a 50.00% 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 361,818 shares of company stock valued at $6,481,715. 27.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of PubMatic during the 3rd quarter valued at $39,000. State of Wyoming acquired a new stake in shares of PubMatic in the first quarter worth approximately $61,000. Sei Investments Co. purchased a new position in PubMatic during the first quarter worth approximately $129,000. Versant Capital Management Inc grew its holdings in shares of PubMatic by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company's stock worth $140,000 after purchasing an additional 2,482 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in PubMatic in the 1st quarter valued at approximately $162,000. 64.26% of the stock is currently owned by institutional investors.

Key Headlines Impacting PubMatic

Here are the key news stories impacting PubMatic this week:

• Positive Sentiment: PubMatic reported record Q3 results: revenue of $79.58 million exceeded the $76.09 million analyst estimate, and earnings of $0.25 per share beat expectations. Adjusted EBITDA more than doubled year over year, while revenue growth accelerated for a third consecutive quarter. PubMatic Q3 results
• Positive Sentiment: Management forecast full-year 2026 revenue of $312 million–$314 million, above the $308.4 million consensus estimate. Rosenblatt Securities also raised its price target to $25 and reiterated a Buy rating. PubMatic outlook Rosenblatt rating
• Positive Sentiment: The company authorized a $150 million share repurchase program, which could support shareholder returns and signal management confidence. Share buyback announcement
• Neutral Sentiment: Q4 revenue guidance of $91 million–$93 million is broadly in line with the $91.1 million consensus, offering little near-term upside relative to expectations. Q4 guidance
• Negative Sentiment: PubMatic raised its expected full-year capital spending to $24 million–$28 million, which could temper cash-flow expectations. Shares also faced pressure as Trade Desk fell sharply after its earnings report, suggesting broader ad-tech sector weakness may be affecting sentiment. Ad-tech sector trading

About PubMatic

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.

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