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

Shares of PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.11.

A number of research analysts have issued reports on the company. Royal Bank of Canada lowered their price objective on PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Scotiabank reduced their price target on PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Finally, Lake Street Capital lowered their price target on PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, May 9th.

Insider Transactions at PubMatic

In other news, CFO Steven Pantelick sold 4,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $9.83, for a total transaction of $39,320.00. Following the sale, the chief financial officer now owns 27,026 shares of the company's stock, valued at $265,665.58. This trade represents a 12.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Andrew Woods sold 4,111 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $38,273.41. Following the transaction, the general counsel now directly owns 39,509 shares of the company's stock, valued at $367,828.79. The trade was a 9.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,089 shares of company stock worth $768,362 over the last quarter. 26.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the company. Graham Holdings Co grew its holdings in shares of PubMatic by 21.4% in the first quarter. Graham Holdings Co now owns 2,831,462 shares of the company's stock worth $25,880,000 after acquiring an additional 500,000 shares during the period. Nuveen LLC purchased a new position in PubMatic in the first quarter worth about $3,963,000. Acadian Asset Management LLC grew its stake in shares of PubMatic by 483.6% during the 1st quarter. Acadian Asset Management LLC now owns 457,033 shares of the company's stock valued at $4,174,000 after purchasing an additional 378,714 shares during the period. Avestar Capital LLC purchased a new stake in shares of PubMatic during the 4th quarter valued at about $4,701,000. Finally, Pacer Advisors Inc. purchased a new stake in shares of PubMatic during the 1st quarter valued at about $2,455,000. 64.26% of the stock is owned by institutional investors.

PubMatic Stock Performance

Shares of PubMatic stock traded up $0.42 during trading on Friday, hitting $12.13. The company's stock had a trading volume of 645,247 shares, compared to its average volume of 482,536. PubMatic has a 52 week low of $7.46 and a 52 week high of $24.04. The company has a market capitalization of $588.63 million, a PE ratio of 39.13 and a beta of 1.49. The company has a fifty day simple moving average of $9.90 and a two-hundred day simple moving average of $12.93.

PubMatic (NASDAQ:PUBM - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The business had revenue of $63.83 million for the quarter, compared to analysts' expectations of $62.07 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. PubMatic's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, analysts predict that PubMatic will post 0.22 EPS for the current year.

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.