PubMatic (NASDAQ:PUBM) Rating Lowered to Sell at Wall Street Zen

by · The Cerbat Gem

PubMatic (NASDAQ:PUBM – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other research analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a research note on Wednesday, October 8th. Wolfe Research reissued an “outperform” rating and issued a $12.00 price target on shares of PubMatic in a report on Tuesday, November 11th. Evercore ISI boosted their price objective on shares of PubMatic from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. B. Riley upped their target price on shares of PubMatic from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Rosenblatt Securities increased their target price on shares of PubMatic from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PubMatic presently has a consensus rating of “Hold” and a consensus target price of $12.19.

Check Out Our Latest Stock Report on PUBM

PubMatic Trading Down 3.0%

PubMatic stock opened at $9.05 on Friday. The firm has a 50 day simple moving average of $8.69 and a 200 day simple moving average of $9.85. PubMatic has a 1-year low of $7.01 and a 1-year high of $17.32. The firm has a market capitalization of $420.10 million, a price-to-earnings ratio of -47.63 and a beta of 1.49.

PubMatic (NASDAQ:PUBM – Get Free Report) last posted its earnings results on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. The firm had revenue of $67.96 million for the quarter, compared to the consensus estimate of $63.95 million. PubMatic had a negative return on equity of 2.78% and a negative net margin of 2.51%. On average, equities research analysts forecast that PubMatic will post 0.22 EPS for the current year.

Insider Activity at PubMatic

In related news, Chairman Amar K. Goel sold 4,468 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $8.23, for a total value of $36,771.64. Following the completion of the transaction, the chairman directly owned 20,464 shares in the company, valued at approximately $168,418.72. The trade was a 17.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajeev K. Goel sold 44,000 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $9.02, for a total value of $396,880.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 256,519 shares of company stock worth $2,148,930 in the last three months. 26.42% of the stock is owned by insiders.

Institutional Trading of PubMatic

A number of hedge funds have recently bought and sold shares of the company. US Bancorp DE boosted its stake in PubMatic by 21.3% in the first quarter. US Bancorp DE now owns 14,736 shares of the company’s stock worth $135,000 after buying an additional 2,591 shares in the last quarter. Deutsche Bank AG raised its stake in shares of PubMatic by 70.9% during the first quarter. Deutsche Bank AG now owns 162,594 shares of the company’s stock worth $1,486,000 after acquiring an additional 67,477 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of PubMatic by 47.2% in the 1st quarter. Invesco Ltd. now owns 74,526 shares of the company’s stock worth $681,000 after acquiring an additional 23,902 shares during the last quarter. Nuveen LLC purchased a new stake in shares of PubMatic in the 1st quarter valued at $3,963,000. Finally, Pinnacle Holdings LLC purchased a new stake in shares of PubMatic in the 1st quarter valued at $1,040,000. Institutional investors own 64.26% of the company’s stock.

About PubMatic

(Get Free Report)

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.

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