Evercore ISI Raises PubMatic (NASDAQ:PUBM) Price Target to $22.00

PubMatic (NASDAQ:PUBM) had its price target boosted by investment analysts at Evercore ISI from $20.00 to $22.00 in a report issued on Wednesday, MarketBeat reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 47.85% from the stock’s previous close.

PUBM has been the subject of a number of other reports. Royal Bank of Canada reduced their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Jefferies Financial Group dropped their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Wolfe Research began coverage on shares of PubMatic in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Macquarie dropped their price target on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

PubMatic Stock Performance

Shares of PUBM stock traded down $0.75 during trading on Wednesday, hitting $14.88. 79,357 shares of the company were exchanged, compared to its average volume of 463,403. The firm has a market capitalization of $737.75 million, a price-to-earnings ratio of 50.42 and a beta of 1.39. The business’s 50-day simple moving average is $14.90 and its 200 day simple moving average is $18.32. PubMatic has a twelve month low of $13.18 and a twelve month high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $71.79 million during the quarter, compared to analysts’ expectations of $66.14 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. On average, equities analysts forecast that PubMatic will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PubMatic news, CEO Rajeev K. Goel sold 19,892 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $14.44, for a total value of $287,240.48. Following the sale, the chief executive officer now owns 4,330 shares of the company’s stock, valued at $62,525.20. The trade was a 82.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Amar K. Goel sold 3,889 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the sale, the chairman now directly owns 7,935 shares in the company, valued at $113,549.85. This trade represents a 32.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,391 shares of company stock valued at $1,519,390. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On PubMatic

Institutional investors and hedge funds have recently bought and sold shares of the business. Redwood Wealth Management Group LLC bought a new stake in PubMatic in the 2nd quarter valued at $29,000. Founders Capital Management boosted its stake in shares of PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of PubMatic in the 2nd quarter valued at $38,000. New York State Teachers Retirement System acquired a new stake in shares of PubMatic in the 3rd quarter valued at $51,000. Finally, FMR LLC boosted its stake in shares of PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares in the last quarter. Institutional investors 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.