Macquarie Reiterates Neutral Rating for PubMatic (NASDAQ:PUBM)

PubMatic (NASDAQ:PUBM)‘s stock had its “neutral” rating restated by investment analysts at Macquarie in a research note issued to investors on Thursday,Benzinga reports. They currently have a $19.00 price target on the stock. Macquarie’s target price would suggest a potential upside of 19.87% from the company’s previous close.

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

PubMatic Stock Down 2.5 %

Shares of NASDAQ PUBM traded down $0.41 during midday trading on Thursday, hitting $15.85. The company had a trading volume of 293,600 shares, compared to its average volume of 464,181. PubMatic has a twelve month low of $13.18 and a twelve month high of $25.36. The business has a 50-day simple moving average of $14.90 and a two-hundred day simple moving average of $18.34. The firm has a market capitalization of $785.84 million, a price-to-earnings ratio of 51.03 and a beta of 1.39.

PubMatic (NASDAQ:PUBM) last released its 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 analysts’ expectations of $66.14 million. PubMatic had a net margin of 5.96% and a return on equity of 5.98%. On average, equities analysts forecast that PubMatic will post 0.2 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Lisa Gimbel sold 2,397 shares of PubMatic stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.66, for a total transaction of $32,743.02. Following the sale, the chief accounting officer now directly owns 3,956 shares in the company, valued at approximately $54,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PubMatic news, CAO Lisa Gimbel sold 2,397 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.66, for a total transaction of $32,743.02. Following the completion of the transaction, the chief accounting officer now owns 3,956 shares of the company’s stock, valued at $54,038.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Andrew Woods sold 2,710 shares of the firm’s stock in a transaction 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 transaction, the general counsel now owns 26,739 shares of the company’s stock, valued at $409,106.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,788 shares of company stock worth $1,552,133. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently bought and sold shares of PUBM. Founders Capital Management increased its position in PubMatic by 100.0% during the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of PubMatic during the 2nd quarter valued at approximately $29,000. Price T Rowe Associates Inc. MD increased its holdings in shares of PubMatic by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock valued at $530,000 after purchasing an additional 1,561 shares in the last quarter. Empowered Funds LLC increased its holdings in PubMatic by 9.1% in the 1st quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock worth $465,000 after acquiring an additional 1,632 shares in the last quarter. Finally, Versor Investments LP increased its holdings in PubMatic by 8.2% in the 2nd quarter. Versor Investments LP now owns 22,186 shares of the company’s stock worth $451,000 after acquiring an additional 1,677 shares in the last quarter. Hedge funds and other institutional investors 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.