PubMatic, Inc. (NASDAQ:PUBM) Given Consensus Rating of “Hold” by Brokerages

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been given an average recommendation of “Hold” by the nine brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.1875.

Several analysts have recently commented on PUBM shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research report on Wednesday, October 8th. Evercore ISI lifted their target price on PubMatic from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Wall Street Zen lowered PubMatic from a “hold” rating to a “sell” rating in a research note on Saturday. Rosenblatt Securities raised their price objective on PubMatic from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Wolfe Research restated an “outperform” rating and issued a $12.00 price objective on shares of PubMatic in a report on Tuesday, November 11th.

PubMatic Stock Down 4.2%

NASDAQ PUBM opened at $8.67 on Tuesday. PubMatic has a 52 week low of $7.01 and a 52 week high of $17.32. The business’s fifty day simple moving average is $8.69 and its 200-day simple moving average is $9.83. The firm has a market cap of $402.42 million, a PE ratio of -45.63 and a beta of 1.49.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. PubMatic had a negative net margin of 2.51% and a negative return on equity of 2.78%. The firm had revenue of $67.96 million during the quarter, compared to analyst estimates of $63.95 million. Research analysts expect that PubMatic will post 0.22 EPS for the current year.

Insider Transactions at PubMatic

In related news, insider Mukul Kumar sold 5,428 shares of PubMatic stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $8.24, for a total value of $44,726.72. Following the completion of the sale, the insider owned 77,393 shares in the company, valued at approximately $637,718.32. This trade represents a 6.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Pantelick sold 15,779 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $8.23, for a total value of $129,861.17. Following the completion of the sale, the chief financial officer directly owned 42,212 shares in the company, valued at approximately $347,404.76. The trade was a 27.21% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 256,519 shares of company stock worth $2,148,930. 26.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PUBM. Tower Research Capital LLC TRC grew its stake in shares of PubMatic by 264.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock worth $61,000 after acquiring an additional 3,541 shares in the last quarter. CWM LLC raised its holdings in PubMatic by 506.1% in the second quarter. CWM LLC now owns 5,964 shares of the company’s stock valued at $74,000 after acquiring an additional 4,980 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of PubMatic in the 1st quarter valued at approximately $69,000. Quantbot Technologies LP purchased a new stake in shares of PubMatic in the 1st quarter valued at approximately $78,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of PubMatic by 120.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after purchasing an additional 4,856 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.