PubMatic (NASDAQ:PUBM) Raised to Hold at Wall Street Zen
by Doug Wharley · The Cerbat GemPubMatic (NASDAQ:PUBM – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
A number of other research analysts have also recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $21.00 price objective on shares of PubMatic in a report on Thursday. Lake Street Capital raised PubMatic from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. B. Riley Financial raised PubMatic from a “neutral” rating to a “buy” rating and lifted their price objective for the company 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 objective on shares of PubMatic in a 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 stock. According to data from MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and an average price target of $12.63.
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PubMatic Price Performance
Shares of PUBM stock opened at $9.62 on Friday. The stock has a market cap of $455.99 million, a P/E ratio of -31.03 and a beta of 1.48. PubMatic has a one year low of $6.15 and a one year high of $13.88. The stock has a fifty day moving average price of $8.22 and a 200 day moving average price of $8.30.
PubMatic (NASDAQ:PUBM – Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. The firm had revenue of $80.05 million during the quarter, compared to analysts’ expectations of $76.12 million. PubMatic had a negative return on equity of 5.64% and a negative net margin of 5.11%. Equities research analysts anticipate that PubMatic will post -0.38 EPS for the current year.
Insiders Place Their Bets
In other PubMatic news, CFO Steven Pantelick sold 16,747 shares of PubMatic stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $8.17, for a total transaction of $136,822.99. Following the completion of the transaction, the chief financial officer directly owned 57,601 shares of the company’s stock, valued at approximately $470,600.17. This trade represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajeev K. Goel sold 49,916 shares of PubMatic stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.17, for a total value of $407,813.72. Following the completion of the transaction, the chief executive officer directly owned 47,740 shares of the company’s stock, valued at $390,035.80. This represents a 51.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 367,474 shares of company stock valued at $2,849,632. Company insiders own 26.42% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in shares of PubMatic in the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after buying an additional 1,915 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings 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 valued at $61,000 after buying an additional 3,541 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of PubMatic by 120.8% in the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after buying an additional 4,856 shares during the last quarter. Finally, M&T Bank Corp bought a new position in shares of PubMatic in the fourth quarter valued at about $91,000. 64.26% of the stock is owned by institutional investors.
PubMatic Company Profile
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.