B. Riley Initiates Coverage on PubMatic (NASDAQ:PUBM)

Equities research analysts at B. Riley started coverage on shares of PubMatic (NASDAQ:PUBM) in a research report issued on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $27.00 price target on the stock. B. Riley’s price target would indicate a potential upside of 24.94% from the company’s current price. B. Riley also issued estimates for PubMatic’s Q2 2024 earnings at ($0.03) EPS and Q3 2024 earnings at ($0.03) EPS.

PUBM has been the subject of a number of other reports. JMP Securities upped their price objective on shares of PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of PubMatic in a research note on Monday, March 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.20.

PubMatic Trading Up 0.3 %

NASDAQ PUBM opened at $21.61 on Friday. The company’s 50-day moving average price is $21.05 and its 200-day moving average price is $17.00. The stock has a market cap of $1.08 billion, a PE ratio of 144.08 and a beta of 1.52. PubMatic has a 12 month low of $10.92 and a 12 month high of $24.18.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.15. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The firm had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $78.19 million. During the same period in the prior year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, sell-side analysts forecast that PubMatic will post 0.17 earnings per share for the current year.

Insider Buying and Selling at PubMatic

In other PubMatic news, CFO Steven Pantelick sold 8,876 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $23.71, for a total transaction of $210,449.96. Following the completion of the sale, the chief financial officer now directly owns 16,833 shares of the company’s stock, valued at $399,110.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Paulina Klimenko sold 2,083 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $17.00, for a total value of $35,411.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Pantelick sold 8,876 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $23.71, for a total transaction of $210,449.96. Following the completion of the transaction, the chief financial officer now directly owns 16,833 shares of the company’s stock, valued at $399,110.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,563 shares of company stock valued at $3,940,568. 2.00% 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 stock. Ancora Advisors LLC purchased a new position in shares of PubMatic in the 4th quarter valued at approximately $26,000. Lazard Asset Management LLC purchased a new position in shares of PubMatic in the 2nd quarter valued at approximately $46,000. Guinness Atkinson Asset Management Inc raised its position in shares of PubMatic by 48.6% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after purchasing an additional 992 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of PubMatic by 225.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock valued at $44,000 after purchasing an additional 2,546 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in PubMatic in the 4th quarter worth approximately $65,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

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.