Analysts Set PubMatic, Inc. (NASDAQ:PUBM) Price Target at $21.00

Shares of PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) have earned an average rating of "Moderate Buy" from the seven analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $21.00.

PUBM has been the subject of several recent analyst reports. B. Riley decreased their target price on PubMatic from $31.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Royal Bank of Canada lowered their target price on shares of PubMatic from $26.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, August 20th. Raymond James downgraded shares of PubMatic from an "outperform" rating to a "market perform" rating in a research report on Friday, August 9th. Jefferies Financial Group reduced their price target on shares of PubMatic from $26.00 to $16.00 and set a "hold" rating for the company in a research report on Friday, August 9th. Finally, Wolfe Research initiated coverage on PubMatic in a report on Tuesday, July 16th. They set an "outperform" rating and a $25.00 price objective on the stock.

Insiders Place Their Bets

In other news, CAO Lisa Gimbel sold 2,397 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.66, for a total value of $32,743.02. Following the completion of the sale, the chief accounting officer now directly owns 3,956 shares of the company's stock, valued at approximately $54,038.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Lisa Gimbel sold 2,397 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.66, for a total value of $32,743.02. Following the transaction, the chief accounting officer now owns 3,956 shares of the company's stock, valued at approximately $54,038.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $14.03, for a total value of $56,120.00. Following the sale, the chief financial officer now owns 22,506 shares of the company's stock, valued at $315,759.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,896 shares of company stock valued at $1,263,213. Insiders own 2.90% of the company's stock.

Institutional Trading of PubMatic

Several hedge funds and other institutional investors have recently made changes to their positions in PUBM. CWA Asset Management Group LLC acquired a new stake in PubMatic in the third quarter valued at about $161,000. Olympiad Research LP acquired a new position in PubMatic during the 3rd quarter worth approximately $293,000. US Bancorp DE raised its stake in shares of PubMatic by 370.1% during the 3rd quarter. US Bancorp DE now owns 12,433 shares of the company's stock worth $185,000 after buying an additional 9,788 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of PubMatic in the 3rd quarter valued at approximately $51,000. Finally, BayBridge Capital Group LLC purchased a new stake in shares of PubMatic in the third quarter valued at approximately $387,000. Hedge funds and other institutional investors own 64.26% of the company's stock.

PubMatic Stock Performance

Shares of NASDAQ:PUBM traded down $0.27 during trading hours on Monday, reaching $14.35. The stock had a trading volume of 292,218 shares, compared to its average volume of 461,768. PubMatic has a 1 year low of $11.79 and a 1 year high of $25.36. The firm's 50 day moving average is $14.82 and its 200-day moving average is $18.64. The stock has a market capitalization of $711.53 million, a price-to-earnings ratio of 39.86 and a beta of 1.39.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. PubMatic's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Analysts forecast that PubMatic will post 0.2 EPS for the current year.

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.