PubMatic (NASDAQ:PUBM) PT Lowered to $16.00 at Jefferies Financial Group

PubMatic (NASDAQ:PUBM) had its price objective decreased by Jefferies Financial Group from $26.00 to $16.00 in a research report report published on Friday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other research analysts have also weighed in on PUBM. Wolfe Research started coverage on PubMatic in a research report on Tuesday, July 16th. They issued an outperform rating and a $25.00 price objective for the company. B. Riley assumed coverage on shares of PubMatic in a research report on Friday, April 19th. They set a buy rating and a $27.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on shares of PubMatic from $26.00 to $30.00 and gave the stock an outperform rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $21.43.

PubMatic Trading Up 1.2 %

Shares of PUBM stock opened at $14.23 on Friday. PubMatic has a 1-year low of $10.92 and a 1-year high of $25.36. The stock has a market cap of $710.50 million, a price-to-earnings ratio of 67.77 and a beta of 1.44. The stock has a 50-day moving average of $20.49 and a 200-day moving average of $20.85.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $67.27 million during the quarter, compared to the consensus estimate of $70.07 million. PubMatic had a net margin of 4.42% and a return on equity of 4.21%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. Sell-side analysts forecast that PubMatic will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $18.73, for a total transaction of $468,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $18.73, for a total value of $468,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Pantelick sold 7,846 shares of PubMatic stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total transaction of $161,941.44. Following the transaction, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $464,523.84. The disclosure for this sale can be found here. Insiders have sold a total of 117,324 shares of company stock worth $2,394,449 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of PubMatic

A number of large investors have recently added to or reduced their stakes in PUBM. Redwood Wealth Management Group LLC purchased a new stake in shares of PubMatic during the 2nd quarter worth approximately $29,000. Headlands Technologies LLC bought a new position in PubMatic during the second quarter valued at $38,000. SG Americas Securities LLC purchased a new stake in PubMatic in the first quarter worth $107,000. SVB Wealth LLC purchased a new position in shares of PubMatic during the 4th quarter valued at $163,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after acquiring an additional 3,280 shares during the period. Hedge funds and other institutional investors 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.