PubMatic (NASDAQ:PUBM) Stock Price Expected to Rise, Evercore ISI Analyst Says

PubMatic (NASDAQ:PUBM) had its price target increased by Evercore ISI from $20.00 to $22.00 in a research note published on Wednesday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

PUBM has been the topic of several other reports. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada lowered their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. B. Riley reduced their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Wolfe Research assumed coverage on PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, Macquarie reduced their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

PubMatic Stock Down 4.8 %

Shares of NASDAQ PUBM opened at $14.88 on Wednesday. PubMatic has a twelve month low of $13.18 and a twelve month high of $25.36. The firm has a market cap of $737.75 million, a PE ratio of 48.00 and a beta of 1.39. The business has a fifty day simple moving average of $14.91 and a two-hundred day simple moving average of $18.24.

Insider Transactions at PubMatic

In related news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.25, for a total value of $381,250.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the sale, the chairman now owns 7,935 shares of the company’s stock, valued at approximately $113,549.85. The trade was a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,391 shares of company stock worth $1,519,390 over the last three months. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in shares of PubMatic in the second quarter worth about $6,582,000. Renaissance Technologies LLC lifted its holdings in PubMatic by 28.8% in the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares during the period. Russell Investments Group Ltd. boosted its position in PubMatic by 1,073.9% in the 1st quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock worth $2,990,000 after purchasing an additional 115,300 shares in the last quarter. Sei Investments Co. grew its stake in shares of PubMatic by 190.6% during the 2nd quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock worth $1,424,000 after purchasing an additional 45,998 shares during the period. Finally, Dana Investment Advisors Inc. purchased a new position in shares of PubMatic during the 2nd quarter valued at approximately $839,000. 64.26% of the stock is owned by institutional investors and hedge funds.

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.