PubMatic, Inc. (NASDAQ:PUBM) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• PubMatic, Inc. has received a consensus rating of "Moderate Buy" from nine brokerages, with four holding the stock and five issuing buy ratings.
• The average 12-month price target for PubMatic shares is $18.375, despite recent reductions from some analysts' projected prices.
• Insider trading activity shows that significant shares have been sold recently, with CEO Rajeev K. Goel selling 44,000 shares valued at $563,200.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine ratings firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $18.3750.

Several research analysts recently weighed in on the stock. Lake Street Capital dropped their price objective on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Royal Bank Of Canada dropped their price objective on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd.

Insider Buying and Selling

In related news, CEO Rajeev K. Goel sold 44,000 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $12.80, for a total value of $563,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Amar K. Goel sold 4,417 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total transaction of $55,477.52. Following the completion of the sale, the chairman directly owned 20,516 shares in the company, valued at $257,680.96. This represents a 17.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 285,294 shares of company stock worth $3,449,506 over the last ninety days. Insiders own 26.42% of the company's stock.

Institutional Investors Weigh In On PubMatic

Several institutional investors have recently added to or reduced their stakes in the stock. Corton Capital Inc. lifted its position in PubMatic by 68.8% in the 2nd quarter. Corton Capital Inc. now owns 16,884 shares of the company's stock valued at $210,000 after acquiring an additional 6,884 shares in the last quarter. GWN Securities Inc. bought a new stake in PubMatic in the 2nd quarter valued at $165,000. Acuitas Investments LLC bought a new stake in PubMatic in the 2nd quarter valued at $1,822,000. Nordea Investment Management AB lifted its position in PubMatic by 1.0% during the 2nd quarter. Nordea Investment Management AB now owns 346,047 shares of the company's stock worth $4,436,000 after buying an additional 3,263 shares in the last quarter. Finally, Diversified Investment Strategies LLC bought a new stake in PubMatic during the 2nd quarter worth about $995,000. 64.26% of the stock is owned by institutional investors.

PubMatic Trading Down 0.2%

NASDAQ:PUBM opened at $11.65 on Wednesday. PubMatic has a 1 year low of $7.46 and a 1 year high of $19.91. The firm has a 50 day moving average of $12.06 and a 200-day moving average of $11.72. The stock has a market capitalization of $565.37 million, a P/E ratio of 145.64 and a beta of 1.54.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.18). PubMatic had a net margin of 1.90% and a return on equity of 1.99%. The firm had revenue of $63.83 million during the quarter, compared to the consensus estimate of $62.07 million. During the same quarter last year, the firm posted ($0.05) EPS. The business's revenue was down 4.3% on a year-over-year basis. As a group, analysts forecast that PubMatic will post 0.22 EPS for the current fiscal year.

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.

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