PubMatic (NASDAQ:PUBM) Stock Price Expected to Rise, Evercore ISI Analyst Says

PubMatic (NASDAQ:PUBM) had its target price lifted by Evercore ISI from $20.00 to $22.00 in a research report report published on Wednesday, Marketbeat.com reports. The firm currently has an outperform rating on the stock.

A number of other research firms also recently commented on PUBM. Macquarie lowered their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group lowered their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reduced their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Wolfe Research started coverage on shares of PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $14.88 on Wednesday. The company has a market cap of $737.81 million, a P/E ratio of 48.00 and a beta of 1.39. PubMatic has a 52-week low of $13.18 and a 52-week high of $25.36. The firm’s fifty day moving average is $14.91 and its two-hundred day moving average is $18.26.

PubMatic (NASDAQ:PUBM) last issued 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. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The firm had revenue of $71.79 million for the quarter, compared to analysts’ expectations of $66.14 million. As a group, analysts forecast that PubMatic will post 0.2 EPS for the current fiscal year.

Insider Activity at PubMatic

In other news, Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction 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 sale, the chairman now directly owns 7,935 shares in the company, valued at approximately $113,549.85. This trade represents a 32.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.21, for a total transaction of $60,840.00. Following the sale, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at $342,316.26. This 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 have sold 103,391 shares of company stock worth $1,519,390. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUBM. Redwood Wealth Management Group LLC purchased a new position in shares of PubMatic during the second quarter worth approximately $29,000. Headlands Technologies LLC purchased a new stake in shares of PubMatic in the second quarter valued at approximately $38,000. Founders Capital Management grew its stake in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. New York State Teachers Retirement System purchased a new position in PubMatic during the 3rd quarter worth $51,000. Finally, FMR LLC increased its holdings in PubMatic by 201.6% during 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. 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.