PubMatic (NASDAQ:PUBM) Price Target Lowered to $21.00 at Lake Street Capital

PubMatic (NASDAQ:PUBM) had its target price decreased by Lake Street Capital from $24.00 to $21.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s price objective points to a potential upside of 95.06% from the company’s previous close.

PUBM has been the subject of several other research reports. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Macquarie reaffirmed a “neutral” rating and set a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada dropped their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Evercore ISI lifted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Scotiabank began coverage on shares of PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price objective for the company. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.11.

PubMatic Stock Performance

PubMatic stock traded down $3.20 during mid-day trading on Friday, reaching $10.77. The company’s stock had a trading volume of 867,542 shares, compared to its average volume of 346,975. The company has a market capitalization of $514.26 million, a price-to-earnings ratio of 34.56 and a beta of 1.41. PubMatic has a 12 month low of $10.50 and a 12 month high of $25.36. The business’s 50 day simple moving average is $15.11 and its 200 day simple moving average is $15.18.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. As a group, sell-side analysts expect that PubMatic will post 0.22 EPS for the current year.

Insider Activity

In related news, General Counsel Andrew Woods sold 3,529 shares of PubMatic stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $52,370.36. Following the sale, the general counsel now directly owns 34,702 shares of the company’s stock, valued at approximately $514,977.68. The trade was a 9.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $16.56, for a total transaction of $66,240.00. Following the sale, the chief financial officer now directly owns 22,506 shares in the company, valued at $372,699.36. This trade represents a 15.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,111 shares of company stock worth $2,148,558. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PubMatic

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in PubMatic during the 4th quarter worth approximately $27,000. Cubist Systematic Strategies LLC acquired a new position in shares of PubMatic during the 4th quarter valued at $29,000. New York State Teachers Retirement System acquired a new position in PubMatic during the third quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in PubMatic during the fourth quarter worth $57,000. Finally, FMR LLC raised its holdings in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after buying an additional 2,709 shares during the last quarter. 64.26% of the stock is owned by institutional investors.

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.