PubMatic (NASDAQ:PUBM) Sets New 12-Month Low After Earnings Miss

PubMatic, Inc. (NASDAQ:PUBM) reached a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $10.50 and last traded at $11.32, with a volume of 303898 shares changing hands. The stock had previously closed at $13.97.

The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The company had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $88.24 million.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PUBM shares. Royal Bank of Canada reduced their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Macquarie reiterated a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Evercore ISI boosted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Scotiabank started coverage on shares of PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Insider Buying and Selling at PubMatic

In other news, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $372,699.36. This trade represents a 15.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.54, for a total value of $115,780.00. Following the transaction, the insider now directly owns 44,888 shares in the company, valued at $742,447.52. This trade represents a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,111 shares of company stock worth $2,148,558. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of PubMatic

Large investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of PubMatic during the fourth quarter valued at about $27,000. Cubist Systematic Strategies LLC bought a new stake in PubMatic during the 4th quarter valued at approximately $29,000. New York State Teachers Retirement System purchased a new position in shares of PubMatic during the 3rd quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PubMatic in the 4th quarter worth approximately $57,000. Finally, FMR LLC boosted its position in shares of PubMatic by 201.6% during the third 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.

PubMatic Stock Down 19.9 %

The company has a 50-day moving average of $15.11 and a two-hundred day moving average of $15.18. The company has a market capitalization of $534.23 million, a P/E ratio of 36.93 and a beta of 1.41.

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.