PubMatic (NASDAQ:PUBM - Free Report) had its price objective boosted by Royal Bank of Canada from $26.00 to $30.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.
A number of other research firms have also recently weighed in on PUBM. B. Riley assumed coverage on PubMatic in a report on Friday, April 19th. They set a buy rating and a $27.00 price target on the stock. JMP Securities lifted their target price on PubMatic from $18.00 to $25.00 and gave the company a market outperform rating in a research note on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, PubMatic currently has a consensus rating of Moderate Buy and an average target price of $23.00.
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PubMatic Stock Down 6.0 %
PUBM stock traded down $1.44 during mid-day trading on Wednesday, reaching $22.58. The company had a trading volume of 946,091 shares, compared to its average volume of 465,079. PubMatic has a one year low of $10.92 and a one year high of $25.36. The stock has a market capitalization of $1.13 billion, a P/E ratio of 152.34 and a beta of 1.52. The stock's 50-day simple moving average is $22.60 and its two-hundred day simple moving average is $17.96.
PubMatic (NASDAQ:PUBM - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. The business had revenue of $66.70 million for the quarter, compared to analysts' expectations of $62.19 million. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The company's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) EPS. On average, research analysts forecast that PubMatic will post 0.18 EPS for the current fiscal year.
Insider Activity at PubMatic
In other news, insider Paulina Klimenko sold 24,275 shares of PubMatic stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.27, for a total transaction of $492,054.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PubMatic news, insider Paulina Klimenko sold 24,275 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $20.27, for a total value of $492,054.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajeev K. Goel sold 7,500 shares of PubMatic stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.61, for a total transaction of $169,575.00. Following the completion of the transaction, the chief executive officer now directly owns 7,712 shares in the company, valued at approximately $174,368.32. The disclosure for this sale can be found here. Insiders have sold 192,063 shares of company stock worth $4,110,143 over the last quarter. 2.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of PUBM. Wellington Management Group LLP acquired a new position in shares of PubMatic in the third quarter worth about $3,701,000. Dimensional Fund Advisors LP lifted its position in shares of PubMatic by 17.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company's stock valued at $25,366,000 after acquiring an additional 228,190 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in PubMatic by 1,073.9% in the 1st quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company's stock worth $2,990,000 after purchasing an additional 115,300 shares during the period. Aptus Capital Advisors LLC purchased a new position in PubMatic during the 3rd quarter worth approximately $1,350,000. Finally, Panagora Asset Management Inc. raised its stake in PubMatic by 139.3% during the 4th quarter. Panagora Asset Management Inc. now owns 150,219 shares of the company's stock valued at $2,450,000 after purchasing an additional 87,435 shares during the period. Institutional investors own 64.26% of the company's stock.
PubMatic Company Profile
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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.
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