PubMatic (NASDAQ:PUBM) Trading Up 4.3% - Should You Buy?

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) shares were up 4.3% during trading on Tuesday . The company traded as high as $10.35 and last traded at $10.33. Approximately 160,562 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 477,942 shares. The stock had previously closed at $9.90.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PUBM. Lake Street Capital dropped their target price on PubMatic from $24.00 to $21.00 and set a "buy" rating for the company in a research report on Friday, February 28th. JMP Securities reissued a "market outperform" rating and set a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Scotiabank reduced their target price on shares of PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Finally, Royal Bank of Canada dropped their price target on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.89.

PubMatic Trading Down 6.7 %

The firm has a market cap of $450.33 million, a P/E ratio of 29.94 and a beta of 1.48. The firm's 50 day moving average is $13.04 and its two-hundred day moving average is $14.46.

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PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The firm had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. Analysts predict that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Insider Transactions at PubMatic

In other PubMatic news, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $16.51, for a total value of $115,570.00. Following the sale, the insider now owns 52,005 shares of the company's stock, valued at $858,602.55. This trade represents a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven Pantelick sold 10,040 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $148,993.60. Following the completion of the sale, the chief financial officer now owns 38,285 shares in the company, valued at approximately $568,149.40. This trade represents a 20.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,811 shares of company stock valued at $1,438,381 over the last 90 days. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Pitcairn Co. boosted its position in PubMatic by 7.3% during the 4th quarter. Pitcairn Co. now owns 21,654 shares of the company's stock worth $318,000 after acquiring an additional 1,477 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in PubMatic during the fourth quarter worth $27,000. Cubist Systematic Strategies LLC bought a new position in PubMatic in the fourth quarter valued at $29,000. Principal Financial Group Inc. increased its stake in PubMatic by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company's stock valued at $370,000 after buying an additional 2,234 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in PubMatic by 75.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company's stock worth $77,000 after buying an additional 2,240 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors.

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.