PubMatic, Inc. (NASDAQ:PUBM) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analyst sentiment is moderately bullish: Thirteen analysts give PubMatic an average “Moderate Buy” rating, with 11 buys, one hold and one sell. The average 12-month price target is $19.73.
• PubMatic reported quarterly revenue of $78.59 million, above the $68.95 million consensus estimate, and an EPS loss of $0.03 that beat expectations for a $0.18 loss. The stock opened at $18.42, near its 52-week high of $19.48.
• Insiders sold shares worth approximately $7.93 million over the past 90 days, while institutional ownership stands at 64.26%; several hedge funds and institutions increased or initiated positions during the second quarter.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.73.

A number of research analysts have recently issued reports on PUBM shares. Wall Street Zen upgraded PubMatic from a "hold" rating to a "buy" rating in a report on Saturday, September 26th. Jefferies Financial Group raised their price objective on PubMatic from $10.00 to $18.00 and gave the company a "hold" rating in a research report on Tuesday, August 11th. Weiss Ratings lowered PubMatic from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Citizens Jmp boosted their target price on shares of PubMatic from $12.00 to $20.00 and gave the stock a "market outperform" rating 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 price target for the company in a research report on Friday, August 7th.

PubMatic Price Performance

NASDAQ:PUBM opened at $18.42 on Monday. PubMatic has a 1-year low of $6.15 and a 1-year high of $19.48. The company has a 50-day moving average of $16.48 and a 200 day moving average of $12.72. The firm has a market cap of $839.03 million, a PE ratio of -61.40 and a beta of 1.56.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its 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 business had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. Sell-side analysts anticipate that PubMatic will post -0.09 EPS for the current fiscal year.

Insider Activity

In other PubMatic news, insider Mukul Kumar sold 8,000 shares of PubMatic stock in a transaction on Monday, August 17th. The shares were sold at an average price of $17.05, for a total value of $136,400.00. Following the transaction, the insider directly owned 112,945 shares of the company's stock, valued at approximately $1,925,712.25. The trade was a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Andrew Woods sold 38,331 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $17.96, for a total value of $688,424.76. Following the sale, the general counsel owned 39,761 shares of the company's stock, valued at approximately $714,107.56. This represents a 49.08% 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. Insiders have sold a total of 465,214 shares of company stock worth $7,928,862 over the last 90 days. 27.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd increased its holdings in shares of PubMatic by 28.0% during the second quarter. WINTON GROUP Ltd now owns 16,900 shares of the company's stock valued at $222,000 after acquiring an additional 3,700 shares in the last quarter. Squarepoint Ops LLC raised 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 valued at $815,000 after purchasing an additional 39,023 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in PubMatic in the 2nd quarter worth approximately $872,000. Pinnacle Holdings LLC acquired a new stake in PubMatic in the 2nd quarter worth approximately $2,076,000. Finally, Bank of New York Mellon Corp purchased a new stake in PubMatic during the 2nd quarter worth approximately $1,595,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company's platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.

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