PubMatic (NASDAQ:PUBM) Given Buy Rating at Rosenblatt Securities

PubMatic (NASDAQ:PUBM)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a research note issued to investors on Friday,Benzinga reports. They currently have a $21.00 price target on the stock. Rosenblatt Securities’ target price suggests a potential upside of 160.22% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a research note on Thursday, January 22nd. Lake Street Capital upgraded shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. B. Riley Financial upgraded PubMatic from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $10.00 to $10.50 in a report on Friday, February 27th. Finally, Wolfe Research reissued an “outperform” rating and set a $14.00 price target on shares of PubMatic in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.63.

PubMatic Stock Down 0.5%

PUBM stock opened at $8.07 on Friday. The company has a market cap of $374.61 million, a price-to-earnings ratio of -26.03 and a beta of 1.46. PubMatic has a twelve month low of $6.15 and a twelve month high of $13.88. The business has a 50 day moving average price of $7.49 and a two-hundred day moving average price of $8.25.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.13. PubMatic had a negative return on equity of 5.64% and a negative net margin of 5.11%.The company had revenue of $80.05 million for the quarter, compared to analysts’ expectations of $76.12 million. On average, equities research analysts anticipate that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Transactions at PubMatic

In other news, CEO Rajeev K. Goel sold 44,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $8.72, for a total value of $383,680.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Steven Pantelick sold 18,398 shares of PubMatic stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $8.81, for a total value of $162,086.38. Following the sale, the chief financial officer directly owned 28,685 shares of the company’s stock, valued at approximately $252,714.85. The trade was a 39.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 431,650 shares of company stock worth $3,421,255 over the last quarter. Company insiders own 26.42% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in PubMatic by 75.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after acquiring an additional 1,915 shares during the period. Invesco Ltd. boosted its holdings in PubMatic by 20.0% in the 4th quarter. Invesco Ltd. now owns 105,509 shares of the company’s stock valued at $936,000 after purchasing an additional 17,581 shares during the period. XTX Topco Ltd acquired a new position in shares of PubMatic during the 4th quarter worth approximately $199,000. Tudor Investment Corp ET AL acquired a new position in shares of PubMatic during the 4th quarter worth approximately $893,000. Finally, Millennium Management LLC increased its holdings in shares of PubMatic by 320.0% during the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.

About PubMatic

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.