Evercore ISI Increases PubMatic (NASDAQ:PUBM) Price Target to $22.00

PubMatic (NASDAQ:PUBM - Get Free Report) had its target price lifted by equities research analysts at Evercore ISI from $20.00 to $22.00 in a report released on Wednesday, Marketbeat.com reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's price objective would suggest a potential upside of 35.30% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada lowered their price target on PubMatic from $26.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, August 20th. Wolfe Research assumed coverage on PubMatic in a report on Tuesday, July 16th. They issued an "outperform" rating and a $25.00 price target for the company. Raymond James downgraded shares of PubMatic from an "outperform" rating to a "market perform" rating in a research note on Friday, August 9th. B. Riley decreased their price objective on shares of PubMatic from $31.00 to $22.00 and set a "buy" rating for the company in a report on Friday, August 9th. Finally, Jefferies Financial Group decreased their target price on PubMatic from $26.00 to $16.00 and set a "hold" rating for the company 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.71.

PubMatic Stock Down 1.0 %

PubMatic stock traded down $0.17 during mid-day trading on Wednesday, hitting $16.26. The company had a trading volume of 1,100,176 shares, compared to its average volume of 464,954. The business has a fifty day moving average of $14.87 and a 200 day moving average of $18.36. The stock has a market cap of $806.17 million, a price-to-earnings ratio of 52.32 and a beta of 1.39. PubMatic has a 1 year low of $13.18 and a 1 year high of $25.36.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.05. PubMatic had a net margin of 5.96% and a return on equity of 5.98%. The business had revenue of $71.79 million for the quarter, compared to analysts' expectations of $66.14 million. Equities analysts anticipate that PubMatic will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Lisa Gimbel sold 2,397 shares of PubMatic stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.66, for a total transaction of $32,743.02. Following the transaction, the chief accounting officer now owns 3,956 shares of the company's stock, valued at $54,038.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Lisa Gimbel sold 2,397 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.66, for a total value of $32,743.02. Following the sale, the chief accounting officer now directly owns 3,956 shares of the company's stock, valued at approximately $54,038.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total value of $381,250.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,788 shares of company stock valued at $1,552,133. Insiders own 2.90% of the company's stock.

Institutional Trading of PubMatic

A number of large investors have recently added to or reduced their stakes in PUBM. Millennium Management LLC bought a new stake in PubMatic in the second quarter valued at approximately $6,582,000. Renaissance Technologies LLC grew its position in shares of PubMatic by 28.8% in the second 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 during the last quarter. Russell Investments Group Ltd. boosted its position in shares of PubMatic by 1,073.9% in the first quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company's stock valued at $2,990,000 after acquiring an additional 115,300 shares during the period. Sei Investments Co. grew its position in PubMatic by 190.6% during the second quarter. Sei Investments Co. now owns 70,129 shares of the company's stock worth $1,424,000 after buying an additional 45,998 shares in the last quarter. Finally, Dana Investment Advisors Inc. acquired a new position in PubMatic in the second quarter valued at about $839,000. Institutional investors and hedge funds own 64.26% of the company's stock.

PubMatic Company Profile

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.