PubMatic, Inc. (NASDAQ:PUBM) Receives $20.00 Average Price Target from Analysts

PubMatic, Inc. (NASDAQ:PUBM) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $20.00.

A number of brokerages have recently commented on PUBM. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Scotiabank began coverage on PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Royal Bank of Canada lowered their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Evercore ISI upped their price target on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th.

Insider Buying and Selling at PubMatic

In other PubMatic news, General Counsel Andrew Woods sold 3,529 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 owns 34,702 shares of the company’s stock, valued at $514,977.68. This represents a 9.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mukul Kumar sold 7,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $16.51, for a total value of $115,570.00. Following the transaction, the insider now directly owns 52,005 shares of the company’s stock, valued at $858,602.55. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,111 shares of company stock valued at $2,148,558 over the last quarter. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PubMatic

A number of hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of PubMatic in the fourth quarter valued at approximately $27,000. Cubist Systematic Strategies LLC acquired a new stake in shares of PubMatic in the fourth quarter valued at approximately $29,000. New York State Teachers Retirement System acquired a new stake in shares of PubMatic in the third quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PubMatic in the fourth quarter valued at approximately $57,000. Finally, FMR LLC increased its holdings in shares of PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Stock Down 0.3 %

Shares of PUBM opened at $15.65 on Wednesday. PubMatic has a 52 week low of $13.18 and a 52 week high of $25.36. The company has a market capitalization of $747.60 million, a price-to-earnings ratio of 50.48 and a beta of 1.41. The stock’s 50-day moving average price is $15.34 and its 200-day moving average price is $15.32.

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.