PubMatic (NASDAQ:PUBM) Issues Quarterly Earnings Results

PubMatic (NASDAQ:PUBM) announced its quarterly earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07, Briefing.com reports. The business had revenue of $66.70 million for the quarter, compared to analyst estimates of $62.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS.

PubMatic Trading Down 0.5 %

NASDAQ:PUBM opened at $22.47 on Friday. PubMatic has a 12-month low of $10.92 and a 12-month high of $25.36. The firm has a market cap of $1.12 billion, a PE ratio of 149.81 and a beta of 1.52. The stock has a fifty day moving average price of $22.70 and a 200 day moving average price of $18.02.

Insiders Place Their Bets

In other news, Chairman Amar K. Goel sold 3,770 shares of PubMatic stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $23.71, for a total value of $89,386.70. Following the completion of the transaction, the chairman now owns 2,640 shares in the company, valued at approximately $62,594.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PubMatic news, CEO Rajeev K. Goel sold 98,600 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total value of $2,041,020.00. Following the sale, the chief executive officer now directly owns 7,500 shares in the company, valued at $155,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Amar K. Goel sold 3,770 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $23.71, for a total value of $89,386.70. Following the transaction, the chairman now directly owns 2,640 shares of the company’s stock, valued at $62,594.40. The disclosure for this sale can be found here. Insiders have sold a total of 194,263 shares of company stock worth $4,164,043 in the last quarter. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday. JMP Securities raised their price target on PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 27th. Finally, B. Riley started coverage on PubMatic in a report on Friday, April 19th. They issued a “buy” rating and a $27.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

About PubMatic

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.