PubMatic (NASDAQ:PUBM) Shares Up 5.7% - What's Next?

Key Points

• PubMatic shares rose 5.7% to about $18.45, trading above both its 50-day ($15.66) and 200-day ($12.21) moving averages.
• Analyst sentiment is generally positive: 11 analysts rate the stock Buy, one rates it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $19.73.
• PubMatic exceeded quarterly expectations, reporting an adjusted loss of $0.03 per share versus the estimated $0.18 loss and revenue of $78.59 million versus the $68.95 million consensus; however, insiders sold approximately $8.8 million of stock over the past quarter.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) shares rose 5.7% on Thursday . The stock traded as high as $18.03 and last traded at $18.4490. Approximately 78,604 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 682,028 shares. The stock had previously closed at $17.45.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup restated an "outperform" rating on shares of PubMatic in a research note on Friday, August 7th. Craig Hallum initiated coverage on shares of PubMatic in a research note on Thursday. They issued a "buy" rating and a $24.00 price objective for the company. Citizens Jmp boosted their target price on shares of PubMatic from $12.00 to $20.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. B. Riley Financial increased their target price on PubMatic from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. Finally, Rosenblatt Securities raised their price target on PubMatic from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.73.

PubMatic Trading Up 6.3%

The company's fifty day simple moving average is $15.66 and its 200 day simple moving average is $12.21. The stock has a market capitalization of $844.91 million, a P/E ratio of -61.97 and a beta of 1.58.

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

Insider Transactions at PubMatic

In related news, CEO Rajeev K. Goel sold 49,980 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $16.49, for a total value of $824,170.20. Following the transaction, the chief executive officer directly owned 16,083 shares in the company, valued at approximately $265,208.67. This represents a 75.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76. Following the completion of the sale, the general counsel directly owned 39,761 shares in the company, valued at $714,107.56. This represents a 49.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 546,626 shares of company stock worth $8,798,636. 27.78% of the stock is owned by insiders.

Hedge Funds Weigh In On PubMatic

Institutional investors have recently made changes to their positions in the stock. CenterBook Partners LP raised its position in shares of PubMatic by 53.3% during the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company's stock valued at $10,174,000 after buying an additional 398,595 shares in the last quarter. Renaissance Technologies LLC lifted its stake in PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company's stock worth $12,602,000 after purchasing an additional 321,200 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in PubMatic during the first quarter worth about $1,687,000. Pinnacle Holdings LLC purchased a new position in shares of PubMatic in the 2nd quarter worth about $2,076,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of PubMatic by 248.0% in the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company's stock worth $1,692,000 after purchasing an additional 147,386 shares in the last quarter. Institutional investors own 64.26% of the company's stock.

PubMatic Company Profile

PubMatic, Inc NASDAQ: PUBM operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company's solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.

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