Evercore ISI Has Lowered Expectations for PubMatic (NASDAQ:PUBM) Stock Price

PubMatic (NASDAQ:PUBM) had its price target cut by stock analysts at Evercore ISI from $16.00 to $12.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 44.93% from the company’s previous close.

Other research analysts have also issued reports about the stock. Scotiabank decreased their price target on shares of PubMatic from $15.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday. JMP Securities dropped their price target on PubMatic from $16.00 to $12.00 and set a “market outperform” rating for the company in a research report on Tuesday. Royal Bank Of Canada restated an “outperform” rating and issued a $11.00 price target (down from $14.00) on shares of PubMatic in a research report on Tuesday. Lake Street Capital lowered PubMatic from a “buy” rating to a “hold” rating and dropped their price target for the company from $19.00 to $9.50 in a research report on Tuesday. Finally, B. Riley lowered PubMatic from a “buy” rating to a “neutral” rating and dropped their price target for the company from $17.00 to $9.00 in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, PubMatic currently has an average rating of “Hold” and an average target price of $11.79.

PubMatic Trading Down 2.4%

Shares of PubMatic stock opened at $8.28 on Wednesday. The firm has a market capitalization of $401.83 million, a PE ratio of -118.27 and a beta of 1.54. PubMatic has a twelve month low of $7.01 and a twelve month high of $17.74. The firm’s 50-day moving average price is $11.77 and its 200 day moving average price is $11.50.

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 net margin of 0.58% and a negative return on equity of 0.64%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 earnings per share. On average, sell-side analysts predict that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Andrew Woods sold 4,084 shares of PubMatic stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total transaction of $51,295.04. Following the sale, the general counsel owned 44,130 shares of the company’s stock, valued at approximately $554,272.80. The trade was a 8.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Pantelick sold 15,690 shares of PubMatic stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $12.82, for a total transaction of $201,145.80. Following the sale, the chief financial officer directly owned 30,702 shares in the company, valued at approximately $393,599.64. The trade was a 33.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 284,224 shares of company stock worth $3,437,201. 26.42% of the stock is owned by company insiders.

Institutional Trading of PubMatic

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of PubMatic during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC increased its holdings in PubMatic by 23,208.3% in the 1st quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock valued at $26,000 after purchasing an additional 2,785 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PubMatic in the 4th quarter valued at approximately $57,000. Tower Research Capital LLC TRC increased its holdings in PubMatic by 75.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock valued at $77,000 after purchasing an additional 2,240 shares during the last quarter. Finally, CWM LLC increased its holdings in PubMatic by 506.1% in the 2nd quarter. CWM LLC now owns 5,964 shares of the company’s stock valued at $74,000 after purchasing an additional 4,980 shares during the last quarter. Hedge funds and other 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.