PubMatic, Inc. (NASDAQ:PUBM - Get Free Report)'s stock price reached a new 52-week low during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $10.50 and last traded at $11.32, with a volume of 303898 shares. The stock had previously closed at $13.97.
The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%.
Wall Street Analysts Forecast Growth
PUBM has been the subject of a number of analyst reports. Scotiabank reduced their price objective on PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research report on Friday. Royal Bank of Canada reduced their price target on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Friday, January 3rd. Evercore ISI increased their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Macquarie reiterated a "neutral" rating and issued a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Finally, Lake Street Capital decreased their target price on shares of PubMatic from $24.00 to $21.00 and set a "buy" rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PubMatic presently has an average rating of "Moderate Buy" and an average price target of $19.89.
Check Out Our Latest Analysis on PubMatic
Insider Buying and Selling at PubMatic
In related news, insider Mukul Kumar sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $16.52, for a total transaction of $115,640.00. Following the transaction, the insider now owns 44,888 shares in the company, valued at $741,549.76. This trade represents a 13.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Amar K. Goel sold 4,087 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $60,651.08. Following the sale, the chairman now directly owns 14,044 shares in the company, valued at approximately $208,412.96. The trade was a 22.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,811 shares of company stock valued at $1,554,021. Company insiders own 2.90% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in PubMatic in the fourth quarter worth about $27,000. Cubist Systematic Strategies LLC acquired a new position in shares of PubMatic in the 4th quarter worth approximately $29,000. New York State Teachers Retirement System bought a new stake in shares of PubMatic in the 3rd quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PubMatic during the fourth quarter valued at approximately $57,000. Finally, FMR LLC boosted its holdings in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company's stock worth $60,000 after buying an additional 2,709 shares in the last quarter. Institutional investors own 64.26% of the company's stock.
PubMatic Stock Up 3.1 %
The stock has a market cap of $507.29 million, a price-to-earnings ratio of 34.26 and a beta of 1.41. The company's 50-day simple moving average is $14.92 and its 200-day simple moving average is $15.15.
About PubMatic
(
Get Free Report)
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.
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