PubMatic (NASDAQ:PUBM) PT Lowered to $20.00

PubMatic (NASDAQ:PUBMGet Rating) had its price target reduced by analysts at Jefferies Financial Group from $23.00 to $20.00 in a research report issued to clients and investors on Thursday, The Fly reports. Jefferies Financial Group’s price objective points to a potential upside of 14.74% from the stock’s previous close. Jefferies Financial Group also issued estimates for PubMatic’s Q3 2022 earnings at $0.14 EPS, Q4 2022 earnings at $0.34 EPS, FY2022 earnings at $0.65 EPS, Q1 2023 earnings at $0.08 EPS, Q2 2023 earnings at $0.10 EPS, Q3 2023 earnings at $0.16 EPS, Q4 2023 earnings at $0.38 EPS and FY2023 earnings at $0.72 EPS.

Separately, Lake Street Capital assumed coverage on shares of PubMatic in a research note on Wednesday, June 15th. They set a “buy” rating and a $26.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PubMatic currently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

PubMatic Trading Down 1.2 %

PUBM opened at $17.43 on Thursday. PubMatic has a 12-month low of $14.73 and a 12-month high of $43.65. The firm has a market capitalization of $904.09 million, a PE ratio of 17.43 and a beta of 0.87. The firm has a 50 day moving average of $17.47 and a two-hundred day moving average of $21.89.

PubMatic (NASDAQ:PUBMGet Rating) last posted its earnings results on Monday, May 9th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $54.55 million during the quarter, compared to analyst estimates of $54.63 million. PubMatic had a net margin of 23.74% and a return on equity of 21.35%. As a group, analysts predict that PubMatic will post 0.58 EPS for the current fiscal year.

Insider Activity

In other news, CFO Steven Pantelick sold 2,501 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $19.79, for a total transaction of $49,494.79. Following the transaction, the chief financial officer now owns 10,051 shares of the company’s stock, valued at approximately $198,909.29. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other PubMatic news, Chairman Amar K. Goel sold 1,736 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $20.03, for a total value of $34,772.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 2,501 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $19.79, for a total transaction of $49,494.79. Following the completion of the transaction, the chief financial officer now directly owns 10,051 shares in the company, valued at approximately $198,909.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,937 shares of company stock valued at $2,929,116. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tyler Stone Wealth Management acquired a new position in PubMatic in the fourth quarter valued at about $26,000. First Horizon Advisors Inc. acquired a new position in PubMatic in the fourth quarter valued at about $38,000. Baldwin Brothers LLC MA acquired a new position in PubMatic in the first quarter valued at about $39,000. Evoke Wealth LLC acquired a new position in PubMatic in the fourth quarter valued at about $61,000. Finally, Ensign Peak Advisors Inc acquired a new position in PubMatic in the fourth quarter valued at about $86,000. Institutional investors and hedge funds own 37.58% of the company’s stock.

PubMatic Company Profile

(Get Rating)

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 enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.

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