PubMatic (NASDAQ:PUBM) Given New $23.00 Price Target at Rosenblatt Securities

PubMatic (NASDAQ:PUBM) had its target price lifted by Rosenblatt Securities from $21.00 to $23.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 70.62% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Scotiabank upgraded shares of PubMatic to an “outperform” rating in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research note on Friday, July 17th. Raymond James Financial upgraded PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Friday. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.11.

PubMatic Price Performance

NASDAQ PUBM opened at $13.48 on Friday. PubMatic has a 1-year low of $6.15 and a 1-year high of $14.04. The company has a market capitalization of $626.01 million, a P/E ratio of -35.47 and a beta of 1.54. The business has a 50 day moving average price of $12.52 and a 200 day moving average price of $9.87.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, August 6th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.30. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The company had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. On average, research analysts expect that PubMatic will post -0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Amar K. Goel sold 6,584 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total transaction of $89,871.60. Following the completion of the sale, the chairman directly owned 35,580 shares of the company’s stock, valued at approximately $485,667. This represents a 15.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Andrew Woods sold 5,758 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total value of $78,596.70. Following the transaction, the general counsel owned 81,331 shares in the company, valued at approximately $1,110,168.15. This represents a 6.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 324,284 shares of company stock worth $3,994,693. Insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On PubMatic

A number of institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after acquiring an additional 699,549 shares in the last quarter. Simcoe Capital LLC acquired a new stake in shares of PubMatic in the 4th quarter valued at about $3,625,000. CenterBook Partners LP lifted its position in shares of PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after purchasing an additional 398,595 shares during the last quarter. Renaissance Technologies LLC grew its stake in PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after purchasing an additional 321,200 shares in the last quarter. Finally, UBS Group AG raised its stake in PubMatic by 254.7% during the third quarter. UBS Group AG now owns 422,630 shares of the company’s stock valued at $3,499,000 after buying an additional 303,479 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Company Profile

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.