PubMatic’s (PUBM) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of PubMatic (NASDAQ:PUBM) in a research note published on Tuesday, Marketbeat reports. The firm currently has a $11.00 price objective on the stock, down from their prior price objective of $14.00.

A number of other equities analysts have also recently issued reports on the stock. B. Riley cut shares of PubMatic from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $17.00 to $9.00 in a research report on Tuesday. Lake Street Capital lowered shares of PubMatic from a “buy” rating to a “hold” rating and reduced their target price for the stock from $19.00 to $9.50 in a report on Tuesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.79.

PubMatic Price Performance

PUBM stock opened at $8.28 on Tuesday. The company has a 50 day simple moving average of $11.77 and a 200 day simple moving average of $11.50. The stock has a market cap of $401.83 million, a price-to-earnings ratio of -118.27 and a beta of 1.54. PubMatic has a 1 year low of $7.01 and a 1 year high of $17.74.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). The company had revenue of $71.10 million for the quarter, compared to analyst estimates of $67.77 million. PubMatic had a negative return on equity of 0.64% and a negative net margin of 0.58%. PubMatic’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, equities research analysts anticipate that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Activity

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 directly owned 32,515 shares of the company’s stock, valued at $408,388.40. The trade was a 50.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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. Over the last ninety days, insiders sold 284,224 shares of company stock worth $3,437,201. Company insiders own 26.42% of the company’s stock.

Institutional Investors Weigh In On PubMatic

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of PubMatic by 2.3% in the 1st quarter. Rhumbline Advisers now owns 60,012 shares of the company’s stock valued at $548,000 after purchasing an additional 1,341 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of PubMatic in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC boosted its stake in shares of 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. Russell Investments Group Ltd. boosted its stake in shares of PubMatic by 5.7% in the 4th quarter. Russell Investments Group Ltd. now owns 47,062 shares of the company’s stock valued at $691,000 after purchasing an additional 2,528 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of PubMatic by 21.3% in the 1st quarter. US Bancorp DE now owns 14,736 shares of the company’s stock valued at $135,000 after purchasing an additional 2,591 shares during the last quarter. 64.26% of the stock is owned by 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.