PubMatic (NASDAQ:PUBM) Stock Lifted to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of PubMatic (NASDAQ:PUBM) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

A number of other brokerages have also issued reports on PUBM. B. Riley Financial raised their target price on shares of PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Craig Hallum began coverage on PubMatic in a report on Thursday. They issued a “buy” rating and a $24.00 price target for the company. Jefferies Financial Group increased their price target on PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Rosenblatt Securities increased their price target on PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Citizens Jmp raised their price objective on PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and an average price target of $19.73.

PubMatic Trading Up 0.3%

NASDAQ:PUBM opened at $18.60 on Friday. The firm has a market cap of $847.23 million, a price-to-earnings ratio of -62.00 and a beta of 1.58. The company’s 50-day moving average is $15.88 and its two-hundred day moving average is $12.32. PubMatic has a 12-month low of $6.15 and a 12-month high of $19.19.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.15. The company had revenue of $78.59 million for the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. On average, equities research analysts forecast that PubMatic will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at PubMatic

In related news, CEO Rajeev Goel sold 211,302 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $17.74, for a total value of $3,748,497.48. Following the sale, the chief executive officer directly owned 31,692 shares of the company’s stock, valued at approximately $562,216.08. This trade represents a 86.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Andrew Woods sold 38,331 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76. Following the completion of the sale, the general counsel owned 39,761 shares of the company’s stock, valued at approximately $714,107.56. The trade was a 49.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 597,079 shares of company stock worth $9,729,494 in the last three months. Company insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On PubMatic

A number of hedge funds have recently made changes to their positions in PUBM. CenterBook Partners LP increased its holdings in shares of PubMatic by 53.3% during the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after buying an additional 398,595 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in PubMatic in the first quarter valued at $1,687,000. Pinnacle Holdings LLC purchased a new stake in PubMatic during the second quarter valued at about $2,076,000. Finally, Quantinno Capital Management LP grew its position in PubMatic by 248.0% during the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after acquiring an additional 147,386 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.

Key PubMatic News

Here are the key news stories impacting PubMatic this week:

• Positive Sentiment: Craig Hallum initiated coverage of PubMatic with a “buy” rating and a $24 price target, implying approximately 29% upside from the referenced $18.60 price. The endorsement adds to the bullish momentum surrounding the stock. Craig Hallum initiates coverage of PubMatic
• Positive Sentiment: PubMatic and Silverpush launched global, episode-level contextual CTV audience segments. The offering is designed to help advertisers target viewers based on the specific television content they are watching, potentially expanding PubMatic’s CTV advertising opportunity. Silverpush and PubMatic launch contextual CTV segments PubMatic expands show-level CTV targeting
• Neutral Sentiment: PubMatic was highlighted as a high-volume momentum stock after a reported 6.3% advance. Zacks cautioned that the latest earnings-estimate revision trend may not support continued near-term gains, creating a potential headwind for the rally. Zacks analysis of PubMatic momentum
• Neutral Sentiment: Reported short interest stood at zero shares as of September 24, with a zero-day days-to-cover ratio. This suggests little measurable short-selling pressure, but also means limited potential for a short-squeeze-driven catalyst.
• Negative Sentiment: CEO Rajeev Goel sold 50,453 shares for approximately $930,858, reducing his ownership by 50%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, which somewhat reduces its significance as a discretionary bearish signal, but insider selling can still weigh on sentiment. PubMatic CEO SEC Form 4 filing

PubMatic Company Profile

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.