PubMatic (NASDAQ:PUBM) Posts Earnings Results, Misses Expectations By $0.13 EPS

PubMatic (NASDAQ:PUBM) issued its earnings results on Monday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.13), Zacks reports. PubMatic had a negative return on equity of 0.64% and a negative net margin of 0.58%.

PubMatic Stock Performance

Shares of PUBM traded up $0.26 during trading hours on Monday, hitting $7.66. 804,657 shares of the stock were exchanged, compared to its average volume of 594,986. The stock’s 50-day moving average price is $8.35 and its two-hundred day moving average price is $10.15. PubMatic has a 12-month low of $7.01 and a 12-month high of $17.74. The company has a market cap of $350.01 million, a price-to-earnings ratio of -109.34 and a beta of 1.50.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Lake Street Capital lowered 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. B. Riley downgraded PubMatic from a “buy” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $9.00 in a report on Tuesday, August 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price objective on shares of PubMatic in a research note on Tuesday, September 9th. Scotiabank decreased their target price on shares of PubMatic from $15.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 12th. Finally, JMP Securities dropped their price target on shares of PubMatic from $16.00 to $12.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PubMatic currently has a consensus rating of “Hold” and an average price target of $12.44.

Insider Activity at PubMatic

In other news, CEO Rajeev K. Goel sold 44,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $7.48, for a total transaction of $329,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 15,186 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $8.38, for a total transaction of $127,258.68. Following the completion of the transaction, the chief financial officer directly owned 27,026 shares in the company, valued at approximately $226,477.88. This represents a 35.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 355,131 shares of company stock worth $2,943,628 over the last 90 days. Corporate insiders own 26.42% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. acquired a new position in PubMatic during the second quarter worth $2,084,000. Bank of America Corp DE boosted its position in shares of PubMatic by 170.2% during the 2nd quarter. Bank of America Corp DE now owns 104,050 shares of the company’s stock valued at $1,294,000 after acquiring an additional 65,537 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of PubMatic by 55.7% in the first quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock valued at $1,000,000 after purchasing an additional 39,124 shares during the period. Amundi purchased a new position in PubMatic during the second quarter worth about $432,000. Finally, Creative Planning acquired a new position in PubMatic in the 2nd quarter valued at about $269,000. 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.