PubMatic’s (PUBM) Maintains Rating Reaffirmed at Raymond James

Raymond James restated their maintains rating on shares of PubMatic (NASDAQ:PUBM – Get Rating) in a research note published on Tuesday, Benzinga reports.

Other equities research analysts have also recently issued reports about the company. Lake Street Capital began coverage on PubMatic in a report on Wednesday, June 15th. They set a buy rating and a $26.00 target price for the company. Jefferies Financial Group cut PubMatic from a buy rating to a hold rating and decreased their price target for the stock from $28.00 to $23.00 in a research note on Tuesday, May 31st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PubMatic currently has an average rating of Moderate Buy and an average price target of $40.10.

PubMatic Trading Up 0.7 %

PUBM stock traded up $0.12 during mid-day trading on Tuesday, reaching $16.24. The company’s stock had a trading volume of 5,113 shares, compared to its average volume of 987,073. The company has a market cap of $842.43 million, a price-to-earnings ratio of 16.08 and a beta of 0.96. The business’s 50 day moving average price is $17.93 and its 200 day moving average price is $22.32. PubMatic has a 12 month low of $14.73 and a 12 month high of $43.65.

PubMatic (NASDAQ:PUBM – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. PubMatic had a return on equity of 21.35% and a net margin of 23.74%. The business had revenue of $54.55 million for the quarter, compared to analysts’ expectations of $54.63 million. As a group, equities analysts expect that PubMatic will post 0.65 EPS for the current fiscal year.

Insider Activity

In other PubMatic news, General Counsel Thomas C. Chow sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $21.74, for a total value of $217,400.00. Following the sale, the general counsel now owns 2,801 shares of the company’s stock, valued at $60,893.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PubMatic news, General Counsel Thomas C. Chow sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $21.74, for a total value of $217,400.00. Following the sale, the general counsel now owns 2,801 shares of the company’s stock, valued at $60,893.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven Pantelick sold 2,501 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $19.79, for a total value of $49,494.79. Following the sale, the chief financial officer now directly owns 10,051 shares in the company, valued at approximately $198,909.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,737 shares of company stock valued at $2,988,196. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PubMatic

A number of institutional investors and hedge funds have recently modified their holdings of PUBM. Fiera Capital Corp acquired a new position in shares of PubMatic during the fourth quarter worth $48,487,000. The Manufacturers Life Insurance Company acquired a new position in PubMatic in the first quarter valued at $21,971,000. Renaissance Technologies LLC acquired a new position in PubMatic in the fourth quarter valued at $23,173,000. New York State Common Retirement Fund acquired a new position in PubMatic in the fourth quarter valued at $12,261,000. Finally, Goldman Sachs Group Inc. boosted its stake in PubMatic by 462.2% in the first quarter. Goldman Sachs Group Inc. now owns 412,626 shares of the company’s stock valued at $10,778,000 after acquiring an additional 339,233 shares in the last quarter. Institutional investors and hedge funds own 37.58% of the company’s stock.

PubMatic Company Profile

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PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.