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

PubMatic (NASDAQ:PUBM) had its price target increased by analysts at B. Riley from $9.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. B. Riley’s price objective points to a potential downside of 7.88% from the company’s previous close.

A number of other equities research analysts also recently issued reports on PUBM. Royal Bank Of Canada lowered their price objective on PubMatic from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Evercore ISI lifted their price target on shares of PubMatic from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research note on Wednesday, October 8th. Lake Street Capital lowered PubMatic from a “buy” rating to a “hold” rating and lowered their price target for the company from $19.00 to $9.50 in a research report on Tuesday, August 12th. Finally, Rosenblatt Securities lifted their price target on shares of PubMatic from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.94.

PubMatic Price Performance

Shares of PUBM stock traded up $3.21 on Tuesday, hitting $10.86. The stock had a trading volume of 5,111,534 shares, compared to its average volume of 617,245. The business has a 50 day moving average of $8.33 and a 200 day moving average of $10.14. PubMatic has a 12-month low of $7.01 and a 12-month high of $17.74. The stock has a market cap of $496.29 million, a price-to-earnings ratio of -154.59 and a beta of 1.50.

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). The company had revenue of $71.10 million during the quarter, compared to analysts’ expectations of $67.77 million. PubMatic had a negative return on equity of 0.64% and a negative net margin of 0.58%.PubMatic’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. As a group, research analysts expect that PubMatic will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at PubMatic

In other PubMatic news, Chairman Amar K. Goel sold 4,468 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $8.23, for a total value of $36,771.64. Following the sale, the chairman owned 20,464 shares in the company, valued at approximately $168,418.72. This represents a 17.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajeev K. Goel sold 44,000 shares of PubMatic stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $7.48, for a total transaction of $329,120.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 355,131 shares of company stock valued at $2,943,628 over the last three months. 26.42% of the stock is currently owned by corporate insiders.

Institutional Trading of PubMatic

A number of large investors have recently added to or reduced their stakes in PUBM. Graham Holdings Co raised its position in shares of PubMatic by 21.4% during the 1st quarter. Graham Holdings Co now owns 2,831,462 shares of the company’s stock valued at $25,880,000 after buying an additional 500,000 shares in the last quarter. Wellington Management Group LLP raised its position in PubMatic by 20.0% during the first quarter. Wellington Management Group LLP now owns 1,077,921 shares of the company’s stock valued at $9,852,000 after purchasing an additional 179,951 shares during the period. Geode Capital Management LLC lifted its stake in shares of PubMatic by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 985,948 shares of the company’s stock valued at $12,267,000 after purchasing an additional 49,209 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of PubMatic by 239.0% in the 3rd quarter. CenterBook Partners LP now owns 748,460 shares of the company’s stock worth $6,197,000 after purchasing an additional 527,650 shares during the period. Finally, Nixon Capital LLC raised its holdings in PubMatic by 8.7% during the 1st quarter. Nixon Capital LLC now owns 628,753 shares of the company’s stock valued at $5,747,000 after buying an additional 50,494 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.