PubMatic (NASDAQ:PUBM) Given New $20.00 Price Target at Rosenblatt Securities

PubMatic (NASDAQ:PUBM) had its price target upped by analysts at Rosenblatt Securities from $17.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 161.44% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research note on Wednesday, October 8th. JMP Securities decreased their price target on shares of PubMatic from $16.00 to $12.00 and set a “market outperform” rating for the company in a report on Tuesday, August 12th. Wolfe Research reiterated an “outperform” rating and issued a $12.00 price objective on shares of PubMatic in a research note on Tuesday. B. Riley cut PubMatic from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $17.00 to $9.00 in a research report on Tuesday, August 12th. Finally, Lake Street Capital downgraded PubMatic from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $9.50 in a research report on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PubMatic has an average rating of “Hold” and an average target price of $12.72.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $7.65 on Tuesday. The business’s 50-day simple moving average is $8.33 and its 200-day simple moving average is $10.14. PubMatic has a 52 week low of $7.01 and a 52 week high of $17.74. The firm has a market cap of $349.76 million, a price-to-earnings ratio of -109.27 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). PubMatic had a negative net margin of 0.58% and a negative return on equity of 0.64%. The company had revenue of $71.10 million for the quarter, compared to analyst estimates of $67.77 million. During the same quarter last year, the business earned $0.04 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that PubMatic will post 0.22 earnings per share for the current year.

Insider Buying and Selling at PubMatic

In related news, CFO Steven Pantelick sold 15,186 shares of the stock in a transaction dated 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 $226,477.88. This represents a 35.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mukul Kumar sold 5,428 shares of PubMatic stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $8.24, for a total value of $44,726.72. Following the sale, the insider directly owned 77,393 shares in the company, valued at $637,718.32. The trade was a 6.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 355,131 shares of company stock worth $2,943,628 in the last 90 days. 26.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PubMatic

A number of institutional investors and hedge funds have recently bought and sold shares of PUBM. State of Wyoming bought a new stake in shares of PubMatic during the first quarter worth approximately $82,000. Acadian Asset Management LLC increased its position in shares of PubMatic by 483.6% in the 1st quarter. Acadian Asset Management LLC now owns 457,033 shares of the company’s stock valued at $4,174,000 after buying an additional 378,714 shares in the last quarter. Leibman Financial Services Inc. raised its position in shares of PubMatic by 65.7% during the second quarter. Leibman Financial Services Inc. now owns 104,683 shares of the company’s stock worth $1,302,000 after purchasing an additional 41,499 shares during the period. Acuitas Investments LLC acquired a new stake in PubMatic during the 2nd quarter worth approximately $1,822,000. Finally, Nordea Investment Management AB lifted its position in PubMatic by 1.0% in the 2nd quarter. Nordea Investment Management AB now owns 346,047 shares of the company’s stock valued at $4,436,000 after acquiring an additional 3,263 shares in the last quarter. 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.