PubMatic (NASDAQ:PUBM) Stock Rating Lowered by Wall Street Zen

PubMatic (NASDAQ:PUBM) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the company. Evercore restated an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a report on Monday, August 10th. Citizens Jmp lifted their price target on PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Lake Street Capital reissued a “buy” rating and set a $20.00 price target on shares of PubMatic in a research report on Friday, August 7th. Royal Bank Of Canada upped their price objective on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, B. Riley Financial reissued a “buy” rating on shares of PubMatic in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $16.50 on Friday. PubMatic has a 12-month low of $6.15 and a 12-month high of $18.44. The stock has a market cap of $751.58 million, a PE ratio of -55.00 and a beta of 1.58. The company has a 50-day moving average of $14.77 and a 200 day moving average of $11.33.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The business had revenue of $78.59 million during the quarter, compared to analyst estimates of $68.95 million. On average, sell-side analysts forecast that PubMatic will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at PubMatic

In other PubMatic news, Chairman Amar Goel sold 6,250 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $17.04, for a total value of $106,500.00. Following the sale, the chairman owned 35,580 shares of the company’s stock, valued at $606,283.20. The trade was a 14.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Andrew Woods sold 38,331 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $17.96, for a total value of $688,424.76. Following the transaction, the general counsel directly owned 39,761 shares in the company, valued at approximately $714,107.56. The trade was a 49.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 581,703 shares of company stock valued at $9,151,166. 27.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in PubMatic in the fourth quarter valued at $30,000. Caitong International Asset Management Co. Ltd increased its position in shares of PubMatic by 75.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after purchasing an additional 1,915 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of PubMatic by 264.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after purchasing an additional 3,541 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of PubMatic by 246.5% in the 2nd quarter. California State Teachers Retirement System now owns 7,059 shares of the company’s stock valued at $93,000 after purchasing an additional 5,022 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of PubMatic in the 1st quarter valued at about $61,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.