Lake Street Capital Has Lowered Expectations for PubMatic (NASDAQ:PUBM) Stock Price

PubMatic (NASDAQ:PUBM) had its target price decreased by Lake Street Capital from $24.00 to $21.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s target price would suggest a potential upside of 97.55% from the stock’s previous close.

PUBM has been the topic of a number of other reports. 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. Evercore ISI increased their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Scotiabank assumed coverage on PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price for the company. Macquarie reissued a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Finally, Royal Bank of Canada cut their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PubMatic currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $10.63 on Friday. The firm has a market capitalization of $507.76 million, a PE ratio of 34.29 and a beta of 1.41. The business has a 50 day simple moving average of $15.01 and a two-hundred day simple moving average of $15.16. PubMatic has a 1 year low of $10.35 and a 1 year high of $25.36.

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

Insider Activity at PubMatic

In other news, General Counsel Andrew Woods sold 3,529 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $52,370.36. Following the sale, the general counsel now directly owns 34,702 shares in the company, valued at approximately $514,977.68. This trade represents a 9.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.54, for a total transaction of $115,780.00. Following the completion of the transaction, the insider now directly owns 44,888 shares in the company, valued at approximately $742,447.52. The trade was a 13.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,111 shares of company stock valued at $2,148,558 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of PubMatic

Several hedge funds and other institutional investors have recently made changes to their positions in PUBM. Pitcairn Co. increased its position in PubMatic by 7.3% during the 4th quarter. Pitcairn Co. now owns 21,654 shares of the company’s stock valued at $318,000 after buying an additional 1,477 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of PubMatic during the fourth quarter worth about $27,000. Cubist Systematic Strategies LLC acquired a new position in shares of PubMatic during the fourth quarter valued at about $29,000. Principal Financial Group Inc. raised its position in shares of PubMatic by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock valued at $370,000 after purchasing an additional 2,234 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in PubMatic by 75.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock worth $77,000 after purchasing an additional 2,240 shares in the last quarter. 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.