PubMatic (NASDAQ:PUBM) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

PubMatic (NASDAQ:PUBM - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07, Briefing.com reports. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The business had revenue of $66.70 million for the quarter, compared to analyst estimates of $62.19 million. During the same quarter last year, the business earned ($0.09) earnings per share. The company's revenue for the quarter was up 20.4% compared to the same quarter last year.

PubMatic Price Performance

Shares of PUBM stock traded down $1.44 during trading on Wednesday, hitting $22.58. 946,091 shares of the stock traded hands, compared to its average volume of 465,079. PubMatic has a 52-week low of $10.92 and a 52-week high of $25.36. The firm has a market capitalization of $1.13 billion, a P/E ratio of 152.34 and a beta of 1.52. The firm's fifty day moving average price is $22.60 and its 200-day moving average price is $17.96.

Insider Activity at PubMatic

In other PubMatic news, insider Paulina Klimenko sold 24,275 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.27, for a total transaction of $492,054.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Steven Pantelick sold 8,876 shares of the business's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $23.71, for a total value of $210,449.96. Following the sale, the chief financial officer now directly owns 16,833 shares of the company's stock, valued at approximately $399,110.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paulina Klimenko sold 24,275 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $20.27, for a total transaction of $492,054.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,063 shares of company stock worth $4,110,143. Insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PUBM. JMP Securities raised their price target on shares of PubMatic from $18.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Tuesday, February 27th. B. Riley initiated coverage on shares of PubMatic in a report on Friday, April 19th. They issued a "buy" rating and a $27.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on PubMatic from $26.00 to $30.00 and gave the stock an "outperform" rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.00.

PubMatic Company Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.