PubMatic (NASDAQ:PUBM) Stock Price Up 9% - Still a Buy?

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report)'s stock price shot up 9% during trading on Monday . The stock traded as high as $12.54 and last traded at $12.71. 117,650 shares were traded during mid-day trading, a decline of 76% from the average session volume of 491,496 shares. The stock had previously closed at $11.66.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PUBM. Royal Bank Of Canada cut their target price on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Lake Street Capital cut 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. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.11.

PubMatic Stock Up 0.2%

The firm has a 50 day moving average of $11.12 and a 200-day moving average of $12.15. The firm has a market capitalization of $604.68 million, a P/E ratio of 155.77 and a beta of 1.54.

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

Insider Buying and Selling at PubMatic

In other news, Chairman Amar K. Goel sold 4,446 shares of PubMatic stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $41,392.26. Following the transaction, the chairman owned 18,401 shares in the company, valued at approximately $171,313.31. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mukul Kumar sold 5,401 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total value of $50,283.31. Following the completion of the sale, the insider directly owned 60,465 shares in the company, valued at $562,929.15. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,157 shares of company stock valued at $1,380,817. 26.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PubMatic

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in PubMatic by 23,208.3% in the first quarter. GAMMA Investing LLC now owns 2,797 shares of the company's stock valued at $26,000 after buying an additional 2,785 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of PubMatic in the fourth quarter worth $27,000. Cubist Systematic Strategies LLC bought a new stake in PubMatic in the fourth quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in PubMatic during the 4th quarter worth approximately $57,000. Finally, Headlands Technologies LLC bought a new position in PubMatic during the first quarter worth $69,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.