Evercore ISI Issues Positive Forecast for PubMatic (NASDAQ:PUBM) Stock Price

PubMatic (NASDAQ:PUBM) had its price target increased by Evercore ISI from $20.00 to $22.00 in a research report released on Wednesday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also recently issued reports on PUBM. Macquarie dropped their price objective on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. B. Riley dropped their price target on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group dropped their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada dropped their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

PubMatic Trading Down 1.0 %

Shares of NASDAQ PUBM opened at $16.26 on Wednesday. PubMatic has a 12-month low of $13.18 and a 12-month high of $25.36. The stock has a market cap of $806.17 million, a PE ratio of 52.45 and a beta of 1.39. The company has a 50-day moving average of $14.90 and a 200 day moving average of $18.34.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. PubMatic had a net margin of 5.96% and a return on equity of 5.98%. The company had revenue of $71.79 million during the quarter, compared to analysts’ expectations of $66.14 million. On average, sell-side analysts forecast that PubMatic will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Andrew Woods sold 2,710 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the transaction, the general counsel now owns 26,739 shares of the company’s stock, valued at approximately $409,106.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.25, for a total transaction of $381,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew Woods sold 2,710 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total transaction of $41,463.00. Following the sale, the general counsel now owns 26,739 shares in the company, valued at approximately $409,106.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,788 shares of company stock valued at $1,552,133. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of PubMatic by 0.5% in the 1st 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. Renaissance Technologies LLC raised its holdings in shares of PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after purchasing an additional 265,700 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of PubMatic by 92.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock valued at $10,440,000 after purchasing an additional 211,520 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of PubMatic in the 2nd quarter valued at $6,582,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.