Scotiabank Lowers PubMatic (NASDAQ:PUBM) Price Target to $15.00

PubMatic (NASDAQ:PUBM) had its price target cut by investment analysts at Scotiabank from $17.00 to $15.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 41.11% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Macquarie reissued a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research report on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Evercore ISI lifted their target price on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Lake Street Capital decreased their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Friday. Finally, Royal Bank of Canada decreased their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, PubMatic currently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

PubMatic Stock Performance

Shares of PubMatic stock traded down $3.34 during trading on Friday, reaching $10.63. The company’s stock had a trading volume of 1,866,036 shares, compared to its average volume of 374,418. The business’s fifty day moving average price is $15.11 and its 200-day moving average price is $15.18. The firm has a market cap of $507.76 million, a price-to-earnings ratio of 34.29 and a beta of 1.41. PubMatic has a one year low of $10.35 and a one year high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The business had revenue of $85.50 million during the quarter, compared to the consensus estimate of $88.24 million. Sell-side analysts anticipate that PubMatic will post 0.22 EPS for the current year.

Insider Transactions at PubMatic

In related news, General Counsel Andrew Woods sold 3,529 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $52,370.36. Following the completion of the transaction, the general counsel now owns 34,702 shares in the company, valued at $514,977.68. The trade was a 9.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00. Following the completion of the transaction, the chief financial officer now owns 22,506 shares of the company’s stock, valued at $372,699.36. This trade represents a 15.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,111 shares of company stock valued at $2,148,558 in the last three months. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PUBM. Wellington Management Group LLP raised its position in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after purchasing an additional 519,275 shares during the last quarter. Avestar Capital LLC bought a new position in PubMatic in the 4th quarter worth approximately $4,701,000. Nordea Investment Management AB raised its position in shares of PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after acquiring an additional 269,217 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after acquiring an additional 239,406 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of PubMatic by 263.0% during the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock valued at $3,325,000 after acquiring an additional 163,979 shares during 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.