PubMatic (NASDAQ:PUBM) Receives “Outperform” Rating from Royal Bank Of Canada

PubMatic (NASDAQ:PUBM)‘s stock had its “outperform” rating restated by analysts at Royal Bank Of Canada in a research report issued on Tuesday, Marketbeat reports. They currently have a $11.00 target price on the stock, down from their previous target price of $14.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 29.34% from the stock’s current price.

A number of other analysts have also recently issued reports on PUBM. B. Riley cut PubMatic from a “buy” rating to a “neutral” rating and cut their price objective for the company from $17.00 to $9.00 in a research report on Tuesday. Lake Street Capital lowered PubMatic from a “buy” rating to a “hold” rating and lowered their target price for the stock from $19.00 to $9.50 in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.79.

PubMatic Stock Performance

NASDAQ PUBM traded up $0.17 during trading hours on Tuesday, hitting $8.51. 1,123,290 shares of the company traded hands, compared to its average volume of 578,816. The business’s 50-day moving average is $11.92 and its 200-day moving average is $11.57. PubMatic has a twelve month low of $7.01 and a twelve month high of $17.74. The stock has a market capitalization of $412.75 million, a price-to-earnings ratio of -121.48 and a beta of 1.54.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). PubMatic had a negative net margin of 0.58% and a negative return on equity of 0.63%. The business had revenue of $71.10 million during the quarter, compared to analyst estimates of $67.77 million. During the same period in the previous year, the business earned $0.04 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts predict that PubMatic will post 0.22 EPS for the current year.

Insider Activity

In other PubMatic news, CFO Steven Pantelick sold 15,690 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $12.82, for a total transaction of $201,145.80. Following the transaction, the chief financial officer owned 30,702 shares in the company, valued at $393,599.64. This trade represents a 33.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mukul Kumar sold 5,366 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 value of $67,396.96. Following the transaction, the insider owned 68,960 shares in the company, valued at approximately $866,137.60. This trade represents a 7.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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

Several hedge funds and other institutional investors have recently modified their holdings of PUBM. Cubist Systematic Strategies LLC bought a new position in PubMatic in the fourth quarter valued at about $29,000. GAMMA Investing LLC boosted its holdings in shares of PubMatic by 23,208.3% during the 1st quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock valued at $26,000 after acquiring an additional 2,785 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PubMatic during the 4th quarter valued at $57,000. Tower Research Capital LLC TRC boosted its holdings in shares of PubMatic by 75.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock valued at $77,000 after acquiring an additional 2,240 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of PubMatic by 506.1% during the 2nd quarter. CWM LLC now owns 5,964 shares of the company’s stock valued at $74,000 after acquiring an additional 4,980 shares in the last quarter. 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.