PubMatic (NASDAQ:PUBM) Announces Earnings Results, Beats Expectations By $0.07 EPS

PubMatic (NASDAQ:PUBM) released its earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.07, Briefing.com reports. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The firm had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $62.19 million. During the same period in the previous year, the company earned ($0.09) EPS. PubMatic’s revenue for the quarter was up 20.4% on a year-over-year basis.

PubMatic Stock Performance

NASDAQ PUBM opened at $22.47 on Friday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 149.81 and a beta of 1.52. PubMatic has a one year low of $10.92 and a one year high of $25.36. The company’s 50 day moving average price is $22.70 and its 200 day moving average price is $18.02.

Insiders Place Their Bets

In other news, CEO Rajeev K. Goel sold 98,600 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $20.70, for a total value of $2,041,020.00. Following the transaction, the chief executive officer now owns 7,500 shares of the company’s stock, valued at approximately $155,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PubMatic news, insider Paulina Klimenko sold 2,083 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rajeev K. Goel sold 98,600 shares of PubMatic stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total value of $2,041,020.00. Following the sale, the chief executive officer now directly owns 7,500 shares in the company, valued at $155,250. The disclosure for this sale can be found here. Insiders sold a total of 194,263 shares of company stock worth $4,164,043 over the last ninety days. 2.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Royal Bank of Canada increased their target price on PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday. B. Riley began coverage on shares of PubMatic in a research report on Friday, April 19th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, JMP Securities upped their price target on shares of PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.00.

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.