PubMatic (NASDAQ:PUBM) Price Target Cut to $16.00 by Analysts at Jefferies Financial Group

PubMatic (NASDAQ:PUBM) had its target price reduced by Jefferies Financial Group from $26.00 to $16.00 in a report issued on Friday, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently commented on PUBM. B. Riley assumed coverage on PubMatic in a research note on Friday, April 19th. They issued a buy rating and a $27.00 price target for the company. Royal Bank of Canada increased their target price on shares of PubMatic from $26.00 to $30.00 and gave the stock an outperform rating in a research report on Wednesday, May 8th. Finally, Wolfe Research assumed coverage on PubMatic in a research note on Tuesday, July 16th. They set an outperform rating and a $25.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, PubMatic has a consensus rating of Moderate Buy and a consensus target price of $21.43.

PubMatic Trading Up 1.2 %

NASDAQ PUBM opened at $14.23 on Friday. PubMatic has a 1 year low of $10.92 and a 1 year high of $25.36. The stock’s 50-day moving average price is $20.49 and its two-hundred day moving average price is $20.85. The company has a market cap of $710.50 million, a PE ratio of 67.77 and a beta of 1.44.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. PubMatic’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) earnings per share. Research analysts forecast that PubMatic will post 0.24 EPS for the current fiscal year.

Insider Transactions at PubMatic

In related news, insider Mukul Kumar sold 9,496 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $21.08, for a total transaction of $200,175.68. Following the completion of the sale, the insider now owns 30,958 shares in the company, valued at approximately $652,594.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other PubMatic news, insider Mukul Kumar sold 9,496 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $21.08, for a total value of $200,175.68. Following the completion of the sale, the insider now directly owns 30,958 shares of the company’s stock, valued at approximately $652,594.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $18.73, for a total transaction of $468,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,324 shares of company stock worth $2,394,449. Company insiders own 2.90% of the company’s stock.

Institutional Trading of PubMatic

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in shares of PubMatic by 28,255.4% in the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after purchasing an additional 290,465 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after acquiring an additional 265,700 shares during the period. Dimensional Fund Advisors LP lifted its stake in PubMatic by 17.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after purchasing an additional 228,190 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of PubMatic by 92.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after buying an additional 211,520 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of PubMatic during the first quarter valued at $4,711,000. 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.