PubMatic (NASDAQ:PUBM) PT Raised to $30.00

PubMatic (NASDAQ:PUBM) had its price objective raised by equities research analysts at Royal Bank of Canada from $26.00 to $30.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 33.51% from the company’s previous close.

Other analysts have also issued research reports about the company. B. Riley began coverage on PubMatic in a report on Friday, April 19th. They issued a “buy” rating and a $27.00 target price for the company. JMP Securities increased their target price on PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.00.

PubMatic Stock Down 0.5 %

PUBM opened at $22.47 on Wednesday. The firm has a market cap of $1.12 billion, a PE ratio of 149.81 and a beta of 1.52. The business has a fifty day simple moving average of $22.67 and a 200-day simple moving average of $17.99. PubMatic has a fifty-two week low of $10.92 and a fifty-two week high of $25.36.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. The business had revenue of $66.70 million during the quarter, compared to analyst estimates of $62.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted ($0.09) EPS. On average, equities research analysts anticipate that PubMatic will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paulina Klimenko sold 2,083 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $17.00, for a total transaction of $35,411.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paulina Klimenko sold 2,083 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $17.00, for a total transaction of $35,411.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Amar K. Goel sold 3,770 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $23.71, for a total value of $89,386.70. Following the sale, the chairman now owns 2,640 shares of the company’s stock, valued at $62,594.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 194,263 shares of company stock worth $4,164,043. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently bought and sold shares of PUBM. Guinness Atkinson Asset Management Inc increased its position in PubMatic by 48.6% during the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock worth $37,000 after buying an additional 992 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in PubMatic during the third quarter worth $68,000. SG Americas Securities LLC acquired a new position in PubMatic during the first quarter worth $107,000. Public Employees Retirement System of Ohio acquired a new stake in shares of PubMatic in the third quarter valued at about $142,000. Finally, Quantbot Technologies LP acquired a new stake in shares of PubMatic in the third quarter valued at about $154,000. 64.26% of the stock is owned by institutional investors and hedge funds.

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.