On January 20, 2026, Rajeev K. Goel, the Chief Executive Officer of PubMatic (NASDAQ:PUBM), reported the sale of 44,000 shares of Class A Common Stock. The block of shares was disposed of at a weighted average price of $7.5468 per share, realizing proceeds of approximately $332,059. The sale transactions occurred within a price range of $7.465 to $7.665 per share.
In a related move on the same day, Goel exercised stock options to acquire an additional 44,000 shares of Class B Common Stock at an exercise price of $1.11 per share. Subsequently, these Class B shares were converted into an equal number of Class A Common Stock shares, reflecting an alignment of equity interests.
Separately, PubMatic recently disclosed its financial performance for the third quarter, revealing results that exceeded prevailing analyst forecasts. The company registered revenues totaling $68 million, surpassing the anticipated revenue target of $63.97 million, although this represented a 5% year-over-year decline. Earnings per share (EPS) stood at $0.03, marking a substantial outperformance against the forecasted negative EPS of -$0.22.
Adjusted EBITDA for the quarter arrived at $11 million, producing a 16% margin, which also exceeded prior analyst estimates by 16%. These stronger-than-expected results contributed to positive sentiment among equity research analysts.
In response, Evercore ISI raised its price target for PubMatic to $13, maintaining an Outperform rating on the stock. Wolfe Research followed suit, increasing its price target to $12 based on strong growth in connected TV (CTV) advertising and projecting a high single-digit year-over-year revenue increase for the upcoming fourth quarter. This analyst commentary indicates confidence in PubMatic’s potential for revenue acceleration as the company approaches fiscal year 2026.
This article was prepared with assistance from artificial intelligence tools and has undergone editorial review to ensure accuracy.