Macquarie Reaffirms “Neutral” Rating for PubMatic (NASDAQ:PUBM)

PubMatic (NASDAQ:PUBM)‘s stock had its “neutral” rating reaffirmed by analysts at Macquarie in a note issued to investors on Thursday,Benzinga reports. They presently have a $19.00 target price on the stock. Macquarie’s price target would indicate a potential upside of 27.69% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Evercore ISI upped their target price on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday. B. Riley reduced their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Jefferies Financial Group lowered their price target on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada dropped their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.71.

PubMatic Stock Down 4.8 %

Shares of PUBM opened at $14.88 on Thursday. The stock has a market cap of $737.81 million, a P/E ratio of 48.00 and a beta of 1.39. The business’s 50 day moving average price is $14.91 and its 200-day moving average price is $18.26. PubMatic has a 52 week low of $13.18 and a 52 week high of $25.36.

PubMatic (NASDAQ:PUBM) last released its earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $71.79 million for the quarter, compared to the consensus estimate of $66.14 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. On average, equities analysts anticipate that PubMatic will post 0.2 EPS for the current year.

Insider Buying and Selling at PubMatic

In other news, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total transaction of $381,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew Woods sold 2,710 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the sale, the general counsel now directly owns 26,739 shares of the company’s stock, valued at $409,106.70. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,391 shares of company stock valued at $1,519,390. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in shares of PubMatic by 9.1% during the 1st quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock valued at $465,000 after buying an additional 1,632 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of PubMatic in the first quarter valued at about $107,000. Sei Investments Co. bought a new position in shares of PubMatic in the first quarter worth about $572,000. Russell Investments Group Ltd. grew its position in shares of PubMatic by 1,073.9% during the first quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock worth $2,990,000 after purchasing an additional 115,300 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of PubMatic by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock worth $100,914,000 after purchasing an additional 22,713 shares in the last quarter. Hedge funds and other institutional investors 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.