PubMatic (NASDAQ:PUBM) Price Target Increased to $30.00 by Analysts at Royal Bank of Canada

PubMatic (NASDAQ:PUBM) had its price target increased by equities research analysts at Royal Bank of Canada from $26.00 to $30.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 30.78% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. B. Riley began coverage on shares of PubMatic in a research note on Friday, April 19th. They issued a “buy” rating and a $27.00 price target on the stock. JMP Securities raised their price target on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

PubMatic Trading Down 4.5 %

Shares of PUBM traded down $1.08 during mid-day trading on Wednesday, reaching $22.94. 686,142 shares of the stock traded hands, compared to its average volume of 461,394. PubMatic has a 1 year low of $10.92 and a 1 year high of $25.36. The firm has a fifty day moving average price of $22.60 and a 200 day moving average price of $17.96. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 152.34 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The business had revenue of $66.70 million for the quarter, compared to the consensus estimate of $62.19 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that PubMatic will post 0.18 EPS for the current year.

Insider Buying and Selling

In other PubMatic news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Paulina Klimenko sold 2,083 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $17.00, for a total value of $35,411.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajeev K. Goel sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.61, for a total transaction of $169,575.00. Following the transaction, the chief executive officer now directly owns 7,712 shares in the company, valued at $174,368.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,063 shares of company stock worth $4,110,143. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Guinness Atkinson Asset Management Inc lifted its stake in 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 buying an additional 992 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of PubMatic in the 1st quarter valued at approximately $107,000. DekaBank Deutsche Girozentrale acquired a new position in PubMatic during the third quarter valued at $68,000. Cornerstone Investment Partners LLC purchased a new stake in PubMatic in the 1st quarter worth approximately $222,000. Finally, SVB Wealth LLC bought a new position in PubMatic during the fourth quarter valued at approximately $163,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.