PubMatic (NASDAQ:PUBM) Earns Buy Rating from Analysts at B. Riley

Equities research analysts at B. Riley began coverage on shares of PubMatic (NASDAQ:PUBM - Get Free Report) in a report issued on Friday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $27.00 price target on the stock. B. Riley's price objective indicates a potential upside of 24.94% from the company's previous close.

PUBM has been the topic of a number of other reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $26.00 target price on shares of PubMatic in a report on Monday, March 25th. JMP Securities upped their target price on shares of PubMatic from $18.00 to $25.00 and gave the company a "market outperform" rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.20.

PubMatic Price Performance

NASDAQ:PUBM traded up $0.07 on Friday, hitting $21.61. 344,912 shares of the company's stock were exchanged, compared to its average volume of 482,973. The firm has a 50-day moving average price of $20.93 and a 200-day moving average price of $16.90. PubMatic has a 52 week low of $10.92 and a 52 week high of $24.18. The company has a market cap of $1.08 billion, a P/E ratio of 145.34 and a beta of 1.52.

PubMatic (NASDAQ:PUBM - Get Free Report) last issued its earnings results on Monday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.15. The company had revenue of $84.60 million for the quarter, compared to analysts' expectations of $78.19 million. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. PubMatic's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. On average, research analysts expect that PubMatic will post 0.17 earnings per share for the current fiscal year.

Insider Activity at PubMatic

In related news, insider Paulina Klimenko sold 2,083 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $17.00, for a total value of $35,411.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PubMatic news, CFO Steven Pantelick sold 8,876 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $23.71, for a total transaction of $210,449.96. Following the transaction, the chief financial officer now owns 16,833 shares in the company, valued at approximately $399,110.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paulina Klimenko sold 2,083 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $17.00, for a total transaction of $35,411.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,563 shares of company stock worth $3,940,568. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC acquired a new position in shares of PubMatic during the 4th quarter worth approximately $26,000. Lazard Asset Management LLC acquired a new position in shares of PubMatic during the 2nd quarter worth approximately $46,000. Guinness Atkinson Asset Management Inc grew its position in shares of PubMatic by 48.6% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company's stock worth $37,000 after purchasing an additional 992 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of PubMatic by 225.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company's stock worth $44,000 after acquiring an additional 2,546 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of PubMatic during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 64.26% of the company's stock.

About PubMatic

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.