Macquarie Lowers PubMatic (NASDAQ:PUBM) to Neutral

Posted by Defense World Staff on Aug 9th, 2023

PubMatic (NASDAQ:PUBM – Get Free Report) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, FlyOnTheWall reports.

A number of other research firms also recently commented on PUBM. Raymond James boosted their price objective on PubMatic from $16.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Royal Bank of Canada boosted their price objective on PubMatic from $18.00 to $20.00 in a research note on Monday, May 22nd. Oppenheimer downgraded PubMatic from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, B. Riley began coverage on PubMatic in a research note on Wednesday, April 12th. They issued a “buy” rating and a $20.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

View Our Latest Report on PUBM

PubMatic Price Performance

Shares of PubMatic stock opened at $18.56 on Wednesday. The business’s fifty day moving average price is $18.63 and its two-hundred day moving average price is $15.99. The company has a market capitalization of $964.01 million, a P/E ratio of 59.87 and a beta of 0.86. PubMatic has a 1-year low of $11.73 and a 1-year high of $23.60.

PubMatic (NASDAQ:PUBM – Get Free Report) last announced its earnings results on Tuesday, May 9th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.09. The firm had revenue of $55.41 million for the quarter, compared to the consensus estimate of $50.89 million. PubMatic had a return on equity of 9.89% and a net margin of 7.02%. On average, research analysts expect that PubMatic will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at PubMatic

In other news, CFO Steven Pantelick sold 6,141 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $17.66, for a total transaction of $108,450.06. Following the sale, the chief financial officer now directly owns 12,595 shares of the company’s stock, valued at $222,427.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Steven Pantelick sold 6,141 shares of PubMatic stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $17.66, for a total transaction of $108,450.06. Following the transaction, the chief financial officer now owns 12,595 shares in the company, valued at $222,427.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajeev K. Goel sold 7,500 shares of PubMatic stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $17.86, for a total value of $133,950.00. Following the transaction, the chief executive officer now owns 50,109 shares in the company, valued at approximately $894,946.74. The disclosure for this sale can be found here. Insiders have sold 116,087 shares of company stock valued at $2,135,301 over the last three months. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Silicon Valley Capital Partners purchased a new position in shares of PubMatic during the fourth quarter valued at $26,000. Ancora Advisors LLC purchased a new position in PubMatic in the fourth quarter valued at about $26,000. Mendota Financial Group LLC purchased a new position in PubMatic in the fourth quarter valued at about $37,000. Allworth Financial LP grew its stake in PubMatic by 135.3% in the second quarter. Allworth Financial LP now owns 2,012 shares of the company’s stock valued at $37,000 after purchasing an additional 1,157 shares in the last quarter. Finally, TFC Financial Management Inc. purchased a new position in PubMatic in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 42.12% of the company’s stock.

PubMatic Company Profile

(Get Free Report)

PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides custom management tools and performance optimization insights; Openwrap OTT, a prebid-powered unified bidding solution; and Openwrap SDK, an enterprise-grade management tools and analytics.