PubMatic (NASDAQ:PUBM) Given New $21.00 Price Target at Lake Street Capital

PubMatic (NASDAQ:PUBM) had its target price decreased by Lake Street Capital from $24.00 to $21.00 in a research note published on Friday,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

A number of other brokerages also recently commented on PUBM. Evercore ISI lifted their target price on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Macquarie restated a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Scotiabank initiated coverage on PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price for the company. Finally, Royal Bank of Canada decreased their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.89.

PubMatic Stock Performance

Shares of NASDAQ:PUBM opened at $10.63 on Friday. The company’s fifty day moving average is $15.01 and its two-hundred day moving average is $15.16. PubMatic has a 1-year low of $10.35 and a 1-year high of $25.36. The stock has a market capitalization of $507.76 million, a price-to-earnings ratio of 34.29 and a beta of 1.41.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The business had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. Sell-side analysts expect that PubMatic will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.31, for a total transaction of $407,750.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total value of $66,240.00. Following the sale, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $372,699.36. The trade was a 15.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,111 shares of company stock valued at $2,148,558. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PUBM. International Assets Investment Management LLC raised its holdings in PubMatic by 1,387.1% during the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after purchasing an additional 4,855 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of PubMatic in the third quarter valued at $51,000. US Bancorp DE increased its holdings in shares of PubMatic by 370.1% in the third quarter. US Bancorp DE now owns 12,433 shares of the company’s stock valued at $185,000 after buying an additional 9,788 shares in the last quarter. Olympiad Research LP bought a new position in shares of PubMatic in the third quarter valued at $293,000. Finally, CWA Asset Management Group LLC bought a new position in shares of PubMatic in the third quarter valued at $161,000. 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.