PubMatic (NASDAQ:PUBM) Stock Price Up 4.3% – Should You Buy?

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

Wall Street Analyst Weigh In

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

PubMatic Price Performance

The firm’s 50-day moving average is $13.23 and its two-hundred day moving average is $14.52. The company has a market cap of $482.84 million, a P/E ratio of 32.10 and a beta of 1.48.

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

Insider Activity at PubMatic

In other news, General Counsel Andrew Woods sold 3,529 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction on Monday, February 10th. The shares were sold at an average price of $16.51, for a total transaction of $115,570.00. Following the completion of the sale, the insider now directly owns 52,005 shares in the company, valued at $858,602.55. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,811 shares of company stock worth $1,438,381 over the last quarter. Insiders own 2.90% 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. Wellington Management Group LLP increased its position in shares of PubMatic by 222.8% during the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after purchasing an additional 519,275 shares in the last quarter. Avestar Capital LLC acquired a new stake in shares of PubMatic in the fourth quarter valued at about $4,701,000. Nordea Investment Management AB lifted its stake in shares of PubMatic by 377.4% in 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. Charles Schwab Investment Management Inc. boosted its position in PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after acquiring an additional 239,406 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in PubMatic by 263.0% during the fourth quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock worth $3,325,000 after acquiring an additional 163,979 shares during the last quarter. Institutional investors and hedge funds 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.