Lake Street Capital Has Lowered Expectations for PubMatic (NASDAQ:PUBM) Stock Price

PubMatic (NASDAQ:PUBM) had its target price dropped by analysts at Lake Street Capital from $24.00 to $21.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price target indicates a potential upside of 95.06% from the stock’s previous close.

PUBM has been the topic of a number of other reports. JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a report on Monday, January 27th. Macquarie reissued a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th. Scotiabank began coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Royal Bank of Canada cut their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Evercore ISI boosted their target price on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.11.

PubMatic Price Performance

NASDAQ:PUBM traded down $3.20 on Friday, reaching $10.77. 867,542 shares of the company’s stock were exchanged, compared to its average volume of 346,975. The firm has a market cap of $514.26 million, a price-to-earnings ratio of 34.56 and a beta of 1.41. PubMatic has a 52 week low of $10.50 and a 52 week high of $25.36. The stock has a fifty day simple moving average of $15.11 and a 200-day simple moving average of $15.18.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. As a group, sell-side analysts predict that PubMatic will post 0.22 EPS for the current year.

Insider Activity at PubMatic

In other news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $16.31, for a total transaction of $407,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total value of $66,240.00. Following the transaction, the chief financial officer now directly owns 22,506 shares in the company, valued at $372,699.36. The trade was a 15.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,111 shares of company stock worth $2,148,558. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

A number of institutional investors have recently added to or reduced their stakes in PUBM. Wellington Management Group LLP boosted its holdings in PubMatic by 222.8% in the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares in the last quarter. Nordea Investment Management AB grew its position in PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after buying an additional 269,217 shares during the period. JPMorgan Chase & Co. grew its position in PubMatic by 239.3% during the third quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock valued at $927,000 after buying an additional 43,971 shares during the period. Victory Capital Management Inc. grew its position in shares of PubMatic by 99.2% in the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock valued at $1,072,000 after purchasing an additional 35,898 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares during the period. 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.