Evercore ISI Raises PubMatic (NASDAQ:PUBM) Price Target to $13.00

PubMatic (NASDAQ:PUBM) had its price target hoisted by investment analysts at Evercore ISI from $12.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 35.98% from the company’s previous close.

Other research analysts have also issued research reports about the stock. JMP Securities reduced their target price on shares of PubMatic from $16.00 to $12.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 12th. Lake Street Capital cut shares of PubMatic from a “buy” rating to a “hold” rating and reduced their price objective for the company from $19.00 to $9.50 in a research note on Tuesday, August 12th. Rosenblatt Securities lifted their target price on shares of PubMatic from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their price target on PubMatic from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.94.

PubMatic Stock Down 12.9%

PUBM stock opened at $9.56 on Tuesday. PubMatic has a twelve month low of $7.01 and a twelve month high of $17.74. The company has a market cap of $437.11 million, a P/E ratio of -50.32 and a beta of 1.50. The business has a fifty day moving average of $8.40 and a 200-day moving average of $10.14.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). The firm had revenue of $71.10 million during the quarter, compared to analyst estimates of $67.77 million. PubMatic had a negative return on equity of 2.78% and a negative net margin of 2.51%.PubMatic’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 earnings per share. As a group, equities research analysts anticipate that PubMatic will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Steven Pantelick sold 15,186 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $8.38, for a total value of $127,258.68. Following the completion of the transaction, the chief financial officer owned 27,026 shares of the company’s stock, valued at approximately $226,477.88. This trade represents a 35.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew Woods sold 4,131 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $8.23, for a total transaction of $33,998.13. Following the sale, the general counsel directly owned 51,495 shares in the company, valued at $423,803.85. This trade represents a 7.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 355,131 shares of company stock valued at $2,943,628 over the last ninety days. Insiders own 26.42% of the company’s stock.

Institutional Trading of PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in PubMatic by 29.4% during the first quarter. Victory Capital Management Inc. now owns 92,733 shares of the company’s stock worth $848,000 after acquiring an additional 21,065 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of PubMatic during the 1st quarter worth approximately $108,000. Pacer Advisors Inc. bought a new stake in shares of PubMatic during the 1st quarter worth approximately $2,455,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PubMatic by 36.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,931 shares of the company’s stock valued at $155,000 after buying an additional 4,507 shares during the last quarter. Finally, Corton Capital Inc. bought a new position in shares of PubMatic in the first quarter valued at $91,000. 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.