Scotiabank Lowers PubMatic (NASDAQ:PUBM) Price Target to $15.00

PubMatic (NASDAQ:PUBM) had its target price dropped by stock analysts at Scotiabank from $17.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 41.11% from the stock’s previous close.

PUBM has been the topic of a number of other research reports. Evercore ISI boosted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Lake Street Capital cut their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday. JMP Securities reiterated a “market outperform” rating and set a $20.00 price objective on shares of PubMatic in a research report on Monday, January 27th. Royal Bank of Canada cut their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Macquarie restated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

PubMatic Stock Down 23.9 %

PubMatic stock opened at $10.63 on Friday. The company has a market cap of $507.76 million, a price-to-earnings ratio of 34.29 and a beta of 1.41. The firm’s fifty day moving average is $15.01 and its 200 day moving average is $15.16. PubMatic has a 52-week low of $10.35 and a 52-week high of $25.36.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The business had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $88.24 million. On average, equities research analysts anticipate that PubMatic will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at PubMatic

In other PubMatic news, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.56, for a total transaction of $66,240.00. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $372,699.36. This represents a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mukul Kumar sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.54, for a total transaction of $115,780.00. Following the completion of the transaction, the insider now directly owns 44,888 shares of the company’s stock, valued at $742,447.52. The trade was a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,111 shares of company stock valued at $2,148,558. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PubMatic

Several hedge funds and other institutional investors have recently modified their holdings of PUBM. SBI Securities Co. Ltd. acquired a new position in PubMatic in the 4th quarter worth approximately $27,000. Cubist Systematic Strategies LLC purchased a new position in PubMatic in the 4th quarter valued at $29,000. New York State Teachers Retirement System purchased a new position in PubMatic in the 3rd quarter valued at $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PubMatic during the 4th quarter worth $57,000. Finally, FMR LLC raised its holdings in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

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.