PubMatic (NASDAQ:PUBM) Stock Price Up 4.3% – What’s Next?

PubMatic, Inc. (NASDAQ:PUBM) shares rose 4.3% on Tuesday . The company traded as high as $10.35 and last traded at $10.33. Approximately 160,562 shares changed hands during trading, a decline of 66% from the average daily volume of 477,942 shares. The stock had previously closed at $9.90.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PUBM. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Royal Bank of Canada lowered their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Scotiabank dropped their price objective on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, Lake Street Capital reduced their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and a consensus target price of $19.89.

PubMatic Stock Performance

The firm has a market cap of $507.11 million, a price-to-earnings ratio of 33.71 and a beta of 1.48. The stock has a 50-day moving average of $13.39 and a 200-day moving average of $14.58.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The company had revenue of $85.50 million during the quarter, compared to the consensus estimate of $88.24 million. Sell-side analysts predict that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Insider Transactions at PubMatic

In other PubMatic news, Chairman Amar K. Goel sold 4,087 shares of PubMatic stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $60,651.08. Following the completion of the transaction, the chairman now directly owns 14,044 shares of the company’s stock, valued at $208,412.96. The trade was a 22.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Andrew Woods sold 3,529 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $52,370.36. Following the completion of the transaction, the general counsel now directly owns 34,702 shares in the company, valued at $514,977.68. The trade was a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 94,811 shares of company stock worth $1,438,381. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On PubMatic

Institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in PubMatic during the 4th quarter worth approximately $27,000. Wellington Management Group LLP increased its position in PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after buying an additional 519,275 shares during the period. Nordea Investment Management AB lifted its holdings in shares of PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after buying an additional 269,217 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of PubMatic by 239.3% in the third quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock valued at $927,000 after acquiring an additional 43,971 shares during the period. Finally, Victory Capital Management Inc. raised its stake in PubMatic by 99.2% in the 3rd quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock worth $1,072,000 after purchasing an additional 35,898 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

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.