PubMatic, Inc. (NASDAQ:PUBM) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• PubMatic has an average analyst rating of “Moderate Buy” from nine research firms, with six Buy ratings, one Strong Buy, one Hold, and one Sell. The average 12-month price target is $12.88.
• Recent analyst updates were mixed: RBC raised its target to $13 with an Outperform rating, while Rosenblatt kept a Buy rating and a $21 target. At the same time, Weiss Ratings reiterated a Sell rating.
• Insiders recently sold shares, including Chairman Amar K. Goel and General Counsel Andrew Woods, with sales made to cover tax withholding from equity award vesting. The company also reported a quarterly earnings beat, posting EPS of -$0.27 versus expectations for -$0.32 and revenue of $62.57 million.

Shares of PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) have received an average rating of "Moderate Buy" from the nine research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.8750.

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of PubMatic from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Wall Street Zen raised shares of PubMatic from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. B. Riley Financial reissued a "buy" rating on shares of PubMatic in a research note on Friday, May 8th. Rosenblatt Securities restated a "buy" rating and set a $21.00 target price on shares of PubMatic in a report on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of PubMatic in a research report on Friday.

Insider Activity

In other PubMatic news, Chairman Amar K. Goel sold 6,584 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total value of $89,871.60. Following the completion of the sale, the chairman directly owned 35,580 shares in the company, valued at $485,667. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Andrew Woods sold 5,758 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total value of $78,596.70. Following the transaction, the general counsel owned 81,331 shares in the company, valued at approximately $1,110,168.15. This trade represents a 6.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 318,305 shares of company stock worth $3,807,773 over the last ninety days. 27.78% of the stock is currently owned by corporate insiders.

Institutional Trading of PubMatic

Large investors have recently bought and sold shares of the stock. Millennium Management LLC grew its holdings in shares of PubMatic by 320.0% during the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company's stock valued at $8,144,000 after buying an additional 699,549 shares during the last quarter. Simcoe Capital LLC purchased a new position in shares of PubMatic during the 4th quarter valued at approximately $3,625,000. CenterBook Partners LP raised its position in shares of PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company's stock worth $10,174,000 after acquiring an additional 398,595 shares during the period. Renaissance Technologies LLC raised its holdings in PubMatic by 26.3% in the 1st 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 period. Finally, UBS Group AG lifted its position in shares of PubMatic by 254.7% during the 3rd quarter. UBS Group AG now owns 422,630 shares of the company's stock valued at $3,499,000 after buying an additional 303,479 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company's stock.

PubMatic Trading Down 1.3%

PUBM stock opened at $12.92 on Wednesday. PubMatic has a 12 month low of $6.15 and a 12 month high of $14.04. The company has a 50-day moving average price of $11.87 and a 200 day moving average price of $9.49. The stock has a market cap of $600.00 million, a PE ratio of -34.00 and a beta of 1.51.

PubMatic (NASDAQ:PUBM - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.05. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The firm had revenue of $62.57 million for the quarter, compared to analysts' expectations of $60.42 million. Sell-side analysts forecast that PubMatic will post -0.26 EPS for the current year.

PubMatic Company Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq symbol: PUBM in December 2020.

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