PubMatic’s (PUBM) “Neutral” Rating Reiterated at Macquarie

PubMatic (NASDAQ:PUBM)‘s stock had its “neutral” rating restated by analysts at Macquarie in a report issued on Thursday,Benzinga reports. They presently have a $19.00 price target on the stock. Macquarie’s target price points to a potential upside of 27.69% from the company’s current price.

Other equities analysts have also issued research reports about the stock. B. Riley lowered their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Evercore ISI increased their price target on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank of Canada reduced their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group decreased their price target on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.71.

PubMatic Trading Down 4.8 %

Shares of PUBM stock opened at $14.88 on Thursday. The stock has a market capitalization of $737.81 million, a price-to-earnings ratio of 48.00 and a beta of 1.39. PubMatic has a 12-month low of $13.18 and a 12-month high of $25.36. The stock’s 50-day moving average price is $14.91 and its 200-day moving average price is $18.26.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $71.79 million for the quarter, compared to the consensus estimate of $66.14 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. As a group, research analysts predict that PubMatic will post 0.2 EPS for the current fiscal year.

Insider Activity at PubMatic

In other news, CEO Rajeev K. Goel sold 19,892 shares of PubMatic stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $14.44, for a total transaction of $287,240.48. Following the completion of the sale, the chief executive officer now owns 4,330 shares of the company’s stock, valued at approximately $62,525.20. The trade was a 82.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew Woods sold 2,710 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total value of $41,463.00. Following the completion of the sale, the general counsel now owns 26,739 shares of the company’s stock, valued at $409,106.70. The trade was a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,391 shares of company stock worth $1,519,390 in the last quarter. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On PubMatic

A number of institutional investors and hedge funds have recently bought and sold shares of PUBM. Redwood Wealth Management Group LLC purchased a new position in shares of PubMatic during the second quarter valued at $29,000. Headlands Technologies LLC bought a new position in PubMatic during the 2nd quarter worth about $38,000. Founders Capital Management increased its position in PubMatic by 100.0% during the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the period. New York State Teachers Retirement System bought a new stake in shares of PubMatic in the 3rd quarter valued at about $51,000. Finally, FMR LLC lifted its position in shares of PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares during the period. 64.26% of the stock is owned by institutional investors.

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.