PubMatic (NASDAQ:PUBM) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of PubMatic (NASDAQ:PUBM) in a research note published on Monday morning, Benzinga reports. The firm currently has a $26.00 price objective on the stock.

A number of other analysts have also recently commented on PUBM. JMP Securities lifted 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. B. Riley boosted their price objective on PubMatic from $21.00 to $27.00 and gave the company a buy rating in a report on Tuesday, February 27th. Finally, TheStreet raised PubMatic from a d rating to a c- rating in a report on Friday, December 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, PubMatic presently has a consensus rating of Moderate Buy and a consensus target price of $22.20.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $23.26 on Monday. The business’s 50 day moving average price is $18.44 and its 200-day moving average price is $15.72. PubMatic has a fifty-two week low of $10.92 and a fifty-two week high of $24.06. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 155.08 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Monday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.15. The business had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $78.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. Sell-side analysts predict that PubMatic will post 0.17 earnings per share for the current year.

Insider Activity at PubMatic

In related news, insider Mukul Kumar sold 3,466 shares of PubMatic stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $15.97, for a total value of $55,352.02. Following the completion of the transaction, the insider now owns 24,582 shares in the company, valued at approximately $392,574.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other PubMatic news, insider Mukul Kumar sold 3,466 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $15.97, for a total transaction of $55,352.02. Following the completion of the sale, the insider now directly owns 24,582 shares in the company, valued at approximately $392,574.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paulina Klimenko sold 2,083 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $17.00, for a total value of $35,411.00. The disclosure for this sale can be found here. Insiders sold a total of 171,153 shares of company stock worth $3,312,918 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several large investors have recently bought and sold shares of the company. Ancora Advisors LLC purchased a new stake in shares of PubMatic in the fourth quarter valued at approximately $26,000. Guinness Atkinson Asset Management Inc grew its position in shares of PubMatic by 48.6% in the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after purchasing an additional 992 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of PubMatic by 225.7% in the third quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock valued at $44,000 after purchasing an additional 2,546 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of PubMatic in the second quarter valued at approximately $46,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of PubMatic in the fourth quarter valued at approximately $65,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

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.