PubMatic (NASDAQ:PUBM) Price Target Raised to $24.00

PubMatic (NASDAQ:PUBM) had its target price raised by B. Riley Financial from $21.00 to $24.00 in a report published on Tuesday,Benzinga reports. B. Riley Financial currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. UBS Group reiterated a “buy” rating on shares of PubMatic in a report on Tuesday. Craig Hallum initiated coverage on PubMatic in a research report on Thursday, September 24th. They set a “buy” rating and a $24.00 target price on the stock. Citigroup restated an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. Royal Bank Of Canada raised their price target on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Lake Street Capital restated a “buy” rating and issued a $20.00 price target on shares of PubMatic in a research report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

PubMatic Trading Up 3.9%

PUBM opened at $19.02 on Tuesday. The stock has a 50-day moving average of $17.51 and a 200 day moving average of $12.52. PubMatic has a 12 month low of $6.15 and a 12 month high of $19.48. The firm has a market cap of $866.36 million, a P/E ratio of -380.32 and a beta of 1.59.

Insiders Place Their Bets

In other PubMatic news, CFO Steven Pantelick sold 22,173 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $18.66, for a total value of $413,748.18. Following the completion of the sale, the chief financial officer owned 10,353 shares of the company’s stock, valued at $193,186.98. This trade represents a 68.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mukul Kumar sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $17.12, for a total value of $136,960.00. Following the transaction, the insider owned 117,041 shares of the company’s stock, valued at $2,003,741.92. This trade represents a 6.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 319,399 shares of company stock valued at $5,748,679 over the last quarter. Corporate insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in PubMatic in the third quarter worth $39,000. State of Wyoming bought a new stake in shares of PubMatic during the first quarter worth $61,000. Sei Investments Co. purchased a new stake in shares of PubMatic during the first quarter valued at $129,000. Versant Capital Management Inc boosted its stake in shares of PubMatic by 30.4% during the second quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after purchasing an additional 2,482 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of PubMatic during the first quarter valued at $162,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic is a digital advertising technology company that operates a sell-side platform for publishers and app developers. Its cloud-based platform helps clients manage and monetize advertising inventory by connecting it with demand from advertisers and media buyers through programmatic advertising. The company’s services support advertising across web, mobile app, video and connected TV environments. Its tools include real-time bidding, inventory management, audience and data solutions, and analytics designed to help publishers optimize advertising revenue and give buyers access to digital audiences.