PubMatic’s (PUBM) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of PubMatic (NASDAQ:PUBM) in a research report released on Friday morning,Benzinga reports. The firm currently has a $21.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on PUBM. Wolfe Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of PubMatic in a research note on Monday, January 5th. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research note on Thursday, January 22nd. B. Riley Financial upgraded shares of PubMatic from a “neutral” rating to a “buy” rating and upped their price target for the company from $10.00 to $10.50 in a research report on Friday, February 27th. Finally, Lake Street Capital raised PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.63.

PubMatic Trading Down 1.0%

Shares of NASDAQ PUBM opened at $7.99 on Friday. The stock’s 50-day moving average is $7.49 and its 200 day moving average is $8.24. The stock has a market cap of $378.73 million, a price-to-earnings ratio of -25.77 and a beta of 1.46. PubMatic has a 1-year low of $6.15 and a 1-year high of $13.88.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, February 26th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.13. The business had revenue of $80.05 million during the quarter, compared to analyst estimates of $76.12 million. PubMatic had a negative return on equity of 5.64% and a negative net margin of 5.11%. On average, analysts forecast that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other PubMatic news, CEO Rajeev K. Goel sold 44,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $7.55, for a total transaction of $332,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Pantelick sold 18,398 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $8.81, for a total transaction of $162,086.38. Following the completion of the transaction, the chief financial officer owned 28,685 shares of the company’s stock, valued at $252,714.85. This trade represents a 39.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 387,650 shares of company stock valued at $3,028,775. 26.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after buying an additional 699,549 shares during the period. CenterBook Partners LP grew its holdings in shares of PubMatic by 239.0% during the 3rd quarter. CenterBook Partners LP now owns 748,460 shares of the company’s stock worth $6,197,000 after acquiring an additional 527,650 shares during the period. Simcoe Capital LLC bought a new position in shares of PubMatic in the 4th quarter worth approximately $3,625,000. UBS Group AG raised its position in shares of PubMatic by 254.7% in the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock worth $3,499,000 after acquiring an additional 303,479 shares in the last quarter. Finally, Roubaix Capital LLC purchased a new position in shares of PubMatic in the 3rd quarter valued at approximately $2,247,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

About PubMatic

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.