PubMatic, Inc. (NASDAQ:PUBM) Stock Has Consensus Target Price of $19.73 According to Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on PubMatic, with 11 buy, one hold and one sell rating among 13 analysts. The average 12-month price target is $19.73, above the stock’s cited price of $17.01.
• Several firms recently raised their outlooks, including B. Riley, Scotiabank and Raymond James, with price targets reaching as high as $22.
• Insiders sold heavily in the past 90 days, totaling 610,951 shares worth about $10.9 million, while institutional investors own 64.26% of the company. PubMatic’s latest quarterly results also beat expectations on both adjusted EPS and revenue.

Shares of PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $19.73.

Several research analysts have recently issued reports on the stock. Evercore reaffirmed an "outperform" rating and issued a $21.00 target price on shares of PubMatic in a research note on Monday, August 10th. B. Riley Financial lifted their price objective on shares of PubMatic from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday, September 18th. Lake Street Capital reissued a "buy" rating and set a $20.00 price objective on shares of PubMatic in a research note on Friday, August 7th. Scotiabank upgraded shares of PubMatic from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $8.00 to $21.00 in a report on Friday, August 7th. Finally, Raymond James Financial raised shares of PubMatic from a "market perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research note on Friday, August 7th.

Insiders Place Their Bets

In other PubMatic news, CFO Steven Pantelick sold 22,173 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $18.66, for a total transaction of $413,748.18. Following the completion of the transaction, the chief financial officer owned 10,353 shares in the company, valued at approximately $193,186.98. This represents a 68.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajeev Goel sold 50,021 shares of the business's stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $17.26, for a total value of $863,362.46. Following the completion of the sale, the chief executive officer owned 31,774 shares in the company, valued at approximately $548,419.24. This trade represents a 61.15% 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. Insiders sold a total of 610,951 shares of company stock worth $10,910,572 in the last ninety days. 27.78% of the stock is owned by insiders.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in PubMatic during the third quarter worth about $39,000. Versant Capital Management Inc grew its stake in PubMatic by 30.4% in the second quarter. Versant Capital Management Inc now owns 10,657 shares of the company's stock valued at $140,000 after purchasing an additional 2,482 shares in the last quarter. WINTON GROUP Ltd grew its stake in PubMatic by 28.0% in the second 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 in the last quarter. Hsbc Holdings PLC grew its stake in PubMatic by 12.2% in the fourth quarter. Hsbc Holdings PLC now owns 64,590 shares of the company's stock valued at $573,000 after purchasing an additional 7,034 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of PubMatic during the 1st quarter worth approximately $61,000. 64.26% of the stock is owned by institutional investors.

PubMatic Trading Up 0.2%

NASDAQ PUBM opened at $17.01 on Friday. The company has a fifty day simple moving average of $17.39 and a 200 day simple moving average of $12.05. The company has a market cap of $774.81 million, a P/E ratio of -56.70 and a beta of 1.56. PubMatic has a 1 year low of $6.15 and a 1 year high of $19.48.

PubMatic (NASDAQ:PUBM - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.15. The business had revenue of $78.59 million for the quarter, compared to analysts' expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. Equities research analysts forecast that PubMatic will post -0.09 EPS for the current fiscal year.

PubMatic Company Profile

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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