PubMatic (NASDAQ:PUBM) Given New $10.00 Price Target at B. Riley

PubMatic (NASDAQ:PUBM) had its price objective raised by B. Riley from $9.00 to $10.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts also recently commented on the stock. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Wolfe Research reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of PubMatic in a research note on Tuesday. Rosenblatt Securities lifted their target price on PubMatic from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank decreased their price target on PubMatic from $15.00 to $10.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 12th. Finally, Lake Street Capital downgraded PubMatic from a “buy” rating to a “hold” rating and lowered their price target for the stock from $19.00 to $9.50 in a research report on Tuesday, August 12th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.94.

PubMatic Stock Performance

PUBM stock opened at $10.97 on Tuesday. The firm has a fifty day moving average price of $8.38 and a 200 day moving average price of $10.14. PubMatic has a fifty-two week low of $7.01 and a fifty-two week high of $17.74. The firm has a market cap of $501.55 million, a PE ratio of -57.74 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). PubMatic had a negative net margin of 2.51% and a negative return on equity of 2.73%. The business had revenue of $71.10 million for the quarter, compared to the consensus estimate of $67.77 million. During the same quarter last year, the business earned $0.04 EPS. PubMatic’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts predict that PubMatic will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Steven Pantelick sold 15,779 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $8.23, for a total transaction of $129,861.17. Following the transaction, the chief financial officer directly owned 42,212 shares of the company’s stock, valued at approximately $347,404.76. This trade represents a 27.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Amar K. Goel sold 8,020 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $8.45, for a total value of $67,769.00. Following the completion of the sale, the chairman owned 12,496 shares of the company’s stock, valued at $105,591.20. The trade was a 39.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 355,131 shares of company stock worth $2,943,628 in the last three months. Corporate insiders own 26.42% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of PubMatic by 29.4% during the first quarter. Victory Capital Management Inc. now owns 92,733 shares of the company’s stock valued at $848,000 after buying an additional 21,065 shares during the period. Avantax Advisory Services Inc. purchased a new position in PubMatic during the 1st quarter valued at about $108,000. Pacer Advisors Inc. bought a new stake in shares of PubMatic in the 1st quarter valued at about $2,455,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PubMatic by 36.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,931 shares of the company’s stock worth $155,000 after purchasing an additional 4,507 shares during the period. Finally, Corton Capital Inc. purchased a new stake in shares of PubMatic in the 1st quarter worth approximately $91,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

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.