PubMatic (NASDAQ:PUBM) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen lowered shares of PubMatic (NASDAQ:PUBM – Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research report on Wednesday, October 8th. Wolfe Research reiterated an “outperform” rating and issued a $12.00 target price on shares of PubMatic in a research note on Tuesday, November 11th. Rosenblatt Securities raised their price target on PubMatic from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Evercore ISI lifted their price target on PubMatic from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Finally, B. Riley boosted their target price on shares of PubMatic from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Five 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, the stock currently has a consensus rating of “Hold” and an average price target of $12.19.

Read Our Latest Research Report on PUBM

PubMatic Price Performance

PUBM stock opened at $8.67 on Friday. The firm has a market capitalization of $402.46 million, a P/E ratio of -45.63 and a beta of 1.49. PubMatic has a 52-week low of $7.01 and a 52-week high of $17.32. The company’s 50 day simple moving average is $8.69 and its 200-day simple moving average is $9.83.

PubMatic (NASDAQ:PUBM – Get Free Report) last released its earnings results on Monday, November 10th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. PubMatic had a negative return on equity of 2.78% and a negative net margin of 2.51%.The company had revenue of $67.96 million for the quarter, compared to analysts’ expectations of $63.95 million. Sell-side analysts predict that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Amar K. Goel sold 4,468 shares of PubMatic 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 $36,771.64. Following the completion of the sale, the chairman owned 20,464 shares in the company, valued at $168,418.72. The trade was a 17.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mukul Kumar sold 5,428 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $8.24, for a total transaction of $44,726.72. Following the completion of the transaction, the insider directly owned 77,393 shares in the company, valued at approximately $637,718.32. The trade was a 6.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 256,519 shares of company stock worth $2,148,930. 26.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently added to or reduced their stakes in PUBM. Tower Research Capital LLC TRC increased its stake in PubMatic by 264.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after purchasing an additional 3,541 shares in the last quarter. CWM LLC increased its holdings in shares of PubMatic by 506.1% in the second quarter. CWM LLC now owns 5,964 shares of the company’s stock worth $74,000 after acquiring an additional 4,980 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of PubMatic in the first quarter worth about $78,000. BNP Paribas Financial Markets raised its position in shares of PubMatic by 120.8% during the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after purchasing an additional 4,856 shares during the period. Finally, State of Wyoming bought a new position in shares of PubMatic during the 1st quarter valued at about $82,000. Institutional investors and hedge funds 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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