ANALYST-UPGRADE ·Filed Sep 24, 2026

PUBM

PubMatic, Inc.
BULLISH
Impact 4/10
Processed8d 7h ago SECanalyst-PUBM-craighal-20260924
Craig-Hallum initiates coverage on PUBM at Buy
Latest settled — T+5d
PUBM ▲ +0.97% at T+5d
LONG call ✓ call won +0.97% · α vs SPY +1.56% · entry $18.55 → $18.73
Next anchor: T+20d in 19d
Entry anchored
Sep 24, 01:53 PM ET
via 1-min bar
T+1d
-0.11%
call -0.11% · α -0.27%
$18.53
settled 8d ago
T+5d
+0.97%
call +0.97% · α +1.56%
$18.73
settled yesterday
T+20d
—
call — · α —
—
in 19d
T+60d
—
call — · α —
—
in 3mo

Price Chart

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Executive Summary

Craig-Hallum initiates coverage on PUBM at Buy

Impact Score

Base Score
2/7
LLM Adjustment
+0
Final Score
4/10

Consensus & Targets

Buy / Strong Buy
15 (79%)
Hold
4
Sell / Strong Sell
0
Total Analysts
10
Mean PT
$20.70
Median PT
$21.00
High PT
$23.00
Low PT
$18.00
Current Price
$17.77
Implied Upside
+16.5%

Recent Analyst Activity

DateFirmActionRatingPrice Target
2026-09-24Craig-HalluminitiateBuy$24.00
2026-09-18B. Riley SecuritiesmaintainBuy$21.00
2026-08-11JefferiesmaintainHold$18.00
2026-08-11Evercore ISI GroupmaintainOutperform$21.00
2026-08-07CitizensmaintainMarket Outperform—
2026-08-07ScotiabankupgradeSector Outperform—
2026-08-07Raymond JamesupgradeOutperform—
2026-08-07RosenblattmaintainBuy—
2026-05-08RBC CapitalmaintainOutperform$13.00
2026-04-23RosenblattmaintainBuy$21.00

Firm Track Record — Craig-Hallum

Craig-Hallum accuracy: 54% on 506 calls | avg return: 10%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 9 firms with ≥5 scored calls.

FirmAccuracyCallsAvg Returnvs Average
Citizens Capital Markets100%2/218.5%top tier
Macquarie100%2/25.7%top tier
RBC Capital67%4/6-2.2%top tier
Rosenblatt67%2/3-9.6%top tier
Scotiabank67%2/3-1.6%top tier
JMP Securities50%1/2-9.9%below average
Lake Street33%1/39.1%below average
Evercore ISI Group33%1/3-11.6%below average
B. Riley Securities33%1/3-4.8%below average

Earnings Estimates

PeriodEPS Est.EPS RangeRevenueRevisions (7d)
0q$0.14$0.10 — $0.17$76.1M↑5 ↓0
+1y$0.81$0.63 — $0.99$334.2M↑5 ↓0
+1q$0.35$0.33 — $0.40$91.3M↑1 ↓0
0y$0.52$0.47 — $0.58$308.6M↑5 ↓0

Cross-Platform Signals

Insider Trades (90d)
0 buys / 5 sells
Institutional
Optiver Holding B.V. — trim (-25.6%)
Institutional
AMERICAN CENTURY COMPANIES INC — doubled (471.9%)
Institutional
BANK OF AMERICA CORP /DE/ — add (82.3%)
Short Interest
Short: 323,777 | Exempt: 3,841 | TRF Vol: 505,793 | Short Ratio: 64.0% | Off-exchange volume (dark pool + OTC)

Investment Themes

Software & IT

Documents Analyzed

Report based on filing metadata.

15 reports for PUBM
Performance horizon
50% Hit rate 3 of 6 directional calls best @ T+60▲ +42.90%Apr 22, 2026
Filters
Rows
Reports for PUBM — sortable, filterable
TypeNow
Sep 24, 2026
8d ago
ANALYST-UPGRADE
BULLISH ★ 4/10
$18.55 $18.73▲ +0.97%▲ +1.56%$19.18 (+3.40%)
Sep 4, 2026
28d ago
Insider Cluster
NEUTRAL ★ 2/10
$16.29 $16.78▲ +3.01%▲ +4.13%$19.18 (+17.74%)
Aug 21, 2026
6w ago
Insider Cluster
BEARISH ★ 5/10
$16.36 $16.63▼ −1.65%▼ −1.18%$19.18 (−17.24%)
Aug 18, 2026
6w ago
Insider Cluster
NEUTRAL ★ 5/10
$16.78 $16.25▼ −3.16%▼ −2.77%$19.18 (+14.30%)
Aug 14, 2026
7w ago
Insider Cluster
BEARISH ★ 6/10
$17.59 $16.41▲ +6.71%▲ +5.34%$19.18 (−9.04%)
Aug 10, 2026
7w ago
Insider Cluster
NEUTRAL ★ 4/10
$17.65 $17.36▼ −1.64%▼ −1.24%$19.18 (+8.67%)
Jul 27, 2026
9w ago
Insider Cluster
BEARISH ★ 5/10
$13.03 $12.96▲ +0.54%▲ +2.81%$19.18 (−47.20%)
Jul 17, 2026
11w ago
Insider Cluster
NEUTRAL ★ 2/10
$12.73 $12.30▼ −3.38%▼ −2.69%$19.18 (+50.67%)
Jul 6, 2026
12w ago
Insider Cluster
NEUTRAL ★ 3/10
$13.32 $13.69▲ +2.78%▲ +2.23%$19.18 (+43.99%)
Jun 11, 2026
16w ago
Institutional Cluster
MIXED ★ 4/10
$11.27 $11.30▲ +0.27%▼ −0.17%$19.18 (+70.19%)
Showing 10 of 15

US Market Status

Market Closed — Opens Mon (36h 13m)

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Report published Sep 24, 2026