PubMatic (NASDAQ:PUBM) Given Outperform Rating at Royal Bank Of Canada

PubMatic (NASDAQ:PUBM)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank Of Canada in a report issued on Tuesday, Marketbeat.com reports. They presently have a $11.00 target price on the stock, down from their prior target price of $14.00. Royal Bank Of Canada’s price target would indicate a potential upside of 32.85% from the company’s previous close.

Other research analysts have also issued research reports about the stock. B. Riley lowered shares of PubMatic from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $17.00 to $9.00 in a research note on Tuesday. Lake Street Capital lowered shares of PubMatic from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $19.00 to $9.50 in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, PubMatic presently has an average rating of “Hold” and an average price target of $11.79.

PubMatic Stock Performance

Shares of PUBM opened at $8.28 on Tuesday. The company has a 50 day moving average price of $11.77 and a 200-day moving average price of $11.50. PubMatic has a fifty-two week low of $7.01 and a fifty-two week high of $17.74. The stock has a market capitalization of $401.83 million, a PE ratio of -118.27 and a beta of 1.54.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). PubMatic had a negative return on equity of 0.64% and a negative net margin of 0.58%. The business had revenue of $71.10 million during the quarter, compared to analysts’ expectations of $67.77 million. During the same period in the previous year, the company posted $0.04 EPS. PubMatic’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts forecast that PubMatic will post 0.22 EPS for the current year.

Insider Activity at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 33,001 shares of the business’s 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 $414,492.56. Following the sale, the chief executive officer owned 32,515 shares of the company’s stock, valued at approximately $408,388.40. The trade was a 50.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajeev K. Goel sold 44,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $11.28, for a total transaction of $496,320.00. The disclosure for this sale can be found here. Insiders have sold 284,224 shares of company stock worth $3,437,201 in the last 90 days. 26.42% of the stock is owned by insiders.

Institutional Trading of PubMatic

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in PubMatic by 2.3% during the 1st quarter. Rhumbline Advisers now owns 60,012 shares of the company’s stock worth $548,000 after purchasing an additional 1,341 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in PubMatic during the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC lifted its stake in PubMatic by 75.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock valued at $77,000 after acquiring an additional 2,240 shares during the period. Russell Investments Group Ltd. lifted its stake in PubMatic by 5.7% during the 4th quarter. Russell Investments Group Ltd. now owns 47,062 shares of the company’s stock valued at $691,000 after acquiring an additional 2,528 shares during the period. Finally, US Bancorp DE lifted its stake in PubMatic by 21.3% during the 1st quarter. US Bancorp DE now owns 14,736 shares of the company’s stock valued at $135,000 after acquiring an additional 2,591 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

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.