B. Riley Issues Positive Forecast for PubMatic (NASDAQ:PUBM) Stock Price

PubMatic (NASDAQ:PUBM) had its price target raised by stock analysts at B. Riley from $9.00 to $10.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s price target indicates a potential downside of 7.88% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on PUBM. Wolfe Research reiterated an “outperform” rating and issued a $12.00 target price on shares of PubMatic in a research note on Tuesday. Rosenblatt Securities lifted their target price on shares of PubMatic from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank Of Canada cut their price target on PubMatic from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Lake Street Capital cut shares of PubMatic from a “buy” rating to a “hold” rating and lowered their price objective for the company from $19.00 to $9.50 in a research report on Tuesday, August 12th. Finally, Scotiabank lowered their target price on shares of PubMatic from $15.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday, August 12th. Five equities research 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. Based on data from MarketBeat.com, PubMatic has an average rating of “Hold” and a consensus target price of $12.94.

PubMatic Price Performance

PUBM stock traded up $3.21 on Tuesday, reaching $10.86. 5,111,534 shares of the company were exchanged, compared to its average volume of 617,245. The firm has a market capitalization of $496.29 million, a PE ratio of -154.59 and a beta of 1.50. PubMatic has a 12 month low of $7.01 and a 12 month high of $17.74. The stock’s fifty day moving average price is $8.33 and its 200 day moving average price is $10.14.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $67.77 million. During the same period last year, the company earned $0.04 earnings per share. PubMatic’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts expect that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Andrew Woods sold 4,131 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $8.23, for a total transaction of $33,998.13. Following the completion of the sale, the general counsel owned 51,495 shares of the company’s stock, valued at approximately $423,803.85. This represents a 7.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 15,186 shares of PubMatic stock in a transaction that occurred on Friday, October 3rd. The shares were 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 $226,477.88. This trade represents a 35.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 355,131 shares of company stock valued at $2,943,628. Company insiders own 26.42% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Large investors have recently modified their holdings of the business. State of Wyoming acquired a new stake in shares of PubMatic in the 1st quarter valued at approximately $82,000. Acadian Asset Management LLC increased its position in PubMatic by 483.6% during the 1st quarter. Acadian Asset Management LLC now owns 457,033 shares of the company’s stock worth $4,174,000 after purchasing an additional 378,714 shares in the last quarter. Leibman Financial Services Inc. increased its position in PubMatic by 65.7% during the 2nd 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 in the last quarter. Acuitas Investments LLC bought a new stake in shares of PubMatic during the second quarter worth $1,822,000. Finally, Nordea Investment Management AB grew its holdings in shares of PubMatic by 1.0% during the second quarter. Nordea Investment Management AB now owns 346,047 shares of the company’s stock worth $4,436,000 after purchasing an additional 3,263 shares during the last quarter. Institutional investors and hedge funds 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.