PubMatic (NASDAQ:PUBM) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of PubMatic (NASDAQ:PUBM) from a buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “PubMatic Inc. provides a cloud infrastructure platform which enables real-time programmatic advertising transactions. PubMatic Inc. is based in Redwood City, California. “

Several other research analysts have also recently commented on the stock. Raymond James raised their target price on shares of PubMatic from $43.00 to $50.00 and gave the stock an outperform rating in a report on Wednesday, November 10th. Oppenheimer raised their target price on shares of PubMatic from $45.00 to $50.00 and gave the stock an outperform rating in a report on Wednesday, November 10th. Evercore ISI raised their target price on shares of PubMatic from $44.00 to $50.00 and gave the stock an outperform rating in a report on Wednesday, November 10th. Berenberg Bank started coverage on shares of PubMatic in a report on Wednesday, September 22nd. They set a buy rating and a $37.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on shares of PubMatic from $47.00 to $56.00 and gave the stock an outperform rating in a report on Wednesday, November 10th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PubMatic presently has a consensus rating of Buy and an average price target of $48.67.

Shares of PUBM stock opened at $26.20 on Wednesday. The firm has a 50 day moving average price of $34.85 and a two-hundred day moving average price of $31.32. The company has a market capitalization of $1.34 billion and a PE ratio of 30.82. PubMatic has a 12-month low of $21.61 and a 12-month high of $76.96.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Tuesday, November 9th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.15. The business had revenue of $58.09 million for the quarter, compared to the consensus estimate of $52.29 million. Research analysts forecast that PubMatic will post 0.77 earnings per share for the current fiscal year.

In other PubMatic news, insider Amar K. Goel sold 3,407 shares of the firm’s stock in a transaction that occurred on Monday, October 18th. The shares were sold at an average price of $30.00, for a total value of $102,210.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Howard Hartenbaum sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $39.35, for a total transaction of $787,000.00. The disclosure for this sale can be found here. Insiders sold 377,371 shares of company stock worth $13,529,227 in the last 90 days. Company insiders own 89.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. lifted its holdings in shares of PubMatic by 661.6% during the second quarter. Advisor Group Holdings Inc. now owns 1,409 shares of the company’s stock worth $54,000 after purchasing an additional 1,224 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of PubMatic by 1,225.1% during the second quarter. Russell Investments Group Ltd. now owns 39,143 shares of the company’s stock worth $1,526,000 after purchasing an additional 36,189 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of PubMatic during the second quarter worth $687,000. Swiss National Bank acquired a new position in shares of PubMatic during the second quarter worth $590,000. Finally, Sei Investments Co. acquired a new position in shares of PubMatic during the second quarter worth $983,000. Hedge funds and other institutional investors own 18.40% of the company’s stock.

About PubMatic

PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include PubMatic Cloud, which offers a customizable platform as a service; Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.

Featured Article: How does equity income fit into an investing strategy?

Get a free copy of the Zacks research report on PubMatic (PUBM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for PubMatic (NASDAQ:PUBM)

Receive News & Ratings for PubMatic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PubMatic and related companies with MarketBeat.com's FREE daily email newsletter.