PubMatic (NASDAQ:PUBM) Price Target Raised to $22.00

PubMatic (NASDAQ:PUBM) had its target price raised by equities research analysts at Evercore ISI from $20.00 to $22.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 47.85% from the company’s previous close.

PUBM has been the subject of several other reports. Jefferies Financial Group dropped their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th. Wolfe Research initiated coverage on PubMatic in a report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price objective for the company. B. Riley dropped their price objective on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Royal Bank of Canada dropped their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Finally, Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.71.

PubMatic Trading Down 4.8 %

NASDAQ PUBM traded down $0.75 on Wednesday, hitting $14.88. 79,357 shares of the company were exchanged, compared to its average volume of 463,403. The firm has a 50 day moving average of $14.90 and a two-hundred day moving average of $18.32. The company has a market cap of $737.75 million, a P/E ratio of 50.42 and a beta of 1.39. PubMatic has a 1-year low of $13.18 and a 1-year high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 5.96% and a return on equity of 6.12%. Research analysts anticipate that PubMatic will post 0.2 EPS for the current fiscal year.

Insider Activity

In other PubMatic news, Chairman Amar K. Goel sold 3,889 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the transaction, the chairman now owns 7,935 shares of the company’s stock, valued at $113,549.85. This represents a 32.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $14.45, for a total value of $57,800.00. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $325,211.70. The trade was a 15.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,391 shares of company stock valued at $1,519,390 in the last ninety days. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On PubMatic

Several large investors have recently made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in PubMatic by 9.1% during the 1st quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock valued at $465,000 after purchasing an additional 1,632 shares during the last quarter. SG Americas Securities LLC acquired a new stake in PubMatic in the first quarter valued at about $107,000. Sei Investments Co. acquired a new stake in PubMatic in the first quarter valued at about $572,000. Russell Investments Group Ltd. boosted its stake in shares of PubMatic by 1,073.9% during the first quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock valued at $2,990,000 after purchasing an additional 115,300 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of PubMatic by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after purchasing an additional 22,713 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.