PubMatic (NASDAQ:PUBM - Free Report) had its price objective trimmed by Scotiabank from $17.00 to $15.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.
A number of other research firms have also issued reports on PUBM. Lake Street Capital dropped their target price on shares of PubMatic from $24.00 to $21.00 and set a "buy" rating for the company in a report on Friday. JMP Securities reissued a "market outperform" rating and set a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Evercore ISI boosted their price target on shares of PubMatic from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Royal Bank of Canada lowered their price target on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Finally, Macquarie reissued a "neutral" rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.89.
View Our Latest Stock Analysis on PUBM
PubMatic Stock Up 3.1 %
Shares of PubMatic stock traded up $0.32 during trading hours on Friday, reaching $10.62. 1,099,820 shares of the company's stock were exchanged, compared to its average volume of 418,096. PubMatic has a 1 year low of $9.92 and a 1 year high of $25.36. The company has a market capitalization of $507.29 million, a P/E ratio of 34.26 and a beta of 1.41. The business has a fifty day moving average of $14.82 and a two-hundred day moving average of $15.13.
PubMatic (NASDAQ:PUBM - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.26 earnings per share (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 for the quarter, compared to analysts' expectations of $88.24 million. As a group, research analysts predict that PubMatic will post 0.22 EPS for the current year.
Insider Buying and Selling
In other PubMatic news, Chairman Amar K. Goel sold 4,087 shares of the firm's stock in a transaction 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 completion of the sale, the chairman now owns 14,044 shares of the company's stock, valued at approximately $208,412.96. This trade represents a 22.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew Woods sold 3,529 shares of the firm's stock in a transaction 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 sale, the general counsel now directly owns 34,702 shares of the company's stock, valued at approximately $514,977.68. This trade represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,811 shares of company stock valued at $1,554,021 over the last three months. 2.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of PubMatic in the fourth quarter valued at $27,000. Cubist Systematic Strategies LLC purchased a new position in shares of PubMatic in the fourth quarter valued at $29,000. New York State Teachers Retirement System purchased a new position in shares of PubMatic in the third quarter valued at $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PubMatic in the fourth quarter valued at $57,000. Finally, FMR LLC increased its position in shares of PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company's stock valued at $60,000 after buying an additional 2,709 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company's stock.
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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