PubMatic’s (PUBM) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

PubMatic (NASDAQ:PUBM)‘s stock had its “outperform” rating restated by research analysts at Royal Bank Of Canada in a research note issued to investors on Tuesday, MarketBeat reports. They presently have a $11.00 target price on the stock, down from their previous target price of $14.00. Royal Bank Of Canada’s price target indicates a potential upside of 29.72% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Lake Street Capital cut shares of PubMatic from a “buy” rating to a “hold” rating and decreased their price target for the stock from $19.00 to $9.50 in a research note on Tuesday. B. Riley cut shares of PubMatic from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $17.00 to $9.00 in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.79.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $8.48 on Tuesday. The stock has a market cap of $411.51 million, a P/E ratio of -121.13 and a beta of 1.54. The firm has a fifty day moving average price of $11.84 and a 200 day moving average price of $11.55. PubMatic has a 1-year low of $7.01 and a 1-year high of $17.74.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). The business had revenue of $71.10 million for the quarter, compared to analyst estimates of $67.77 million. PubMatic had a negative return on equity of 0.64% and a negative net margin of 0.58%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. Sell-side analysts expect that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Rajeev K. Goel sold 33,001 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total value of $414,492.56. Following the completion of the sale, the chief executive officer owned 32,515 shares in the company, valued at approximately $408,388.40. This trade represents a 50.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew Woods sold 4,084 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $12.56, for a total transaction of $51,295.04. Following the completion of the sale, the general counsel owned 44,130 shares of the company’s stock, valued at $554,272.80. This trade represents a 8.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 285,294 shares of company stock worth $3,449,506. 26.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PubMatic

Large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in shares of PubMatic in the 4th quarter valued at about $29,000. GAMMA Investing LLC increased its holdings in shares of PubMatic by 23,208.3% in the 1st quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock valued at $26,000 after purchasing an additional 2,785 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PubMatic in the 4th quarter valued at about $57,000. Tower Research Capital LLC TRC increased its holdings in shares of PubMatic by 75.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock valued at $77,000 after purchasing an additional 2,240 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of PubMatic by 506.1% in the 2nd quarter. CWM LLC now owns 5,964 shares of the company’s stock valued at $74,000 after purchasing an additional 4,980 shares in the last quarter. Hedge funds and other 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.