PubMatic, Inc. (NASDAQ:PUBM) shares traded down 9.6% during trading on Tuesday . The company traded as low as $46.22 and last traded at $46.22. 2,228 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 678,886 shares. The stock had previously closed at $51.13.
PUBM has been the topic of a number of recent research reports. Cannonball Research started coverage on shares of PubMatic in a research report on Monday, March 15th. They issued a “neutral” rating on the stock. Raymond James began coverage on shares of PubMatic in a research note on Monday, January 4th. They set a “market perform” rating for the company. KeyCorp raised their price target on shares of PubMatic from $36.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, February 17th. JMP Securities upped their price objective on PubMatic from $34.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, February 24th. Finally, Evercore ISI began coverage on PubMatic in a report on Tuesday, April 13th. They issued an “in-line” rating and a $53.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $50.67.
The company’s 50-day moving average price is $52.62.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Premier Fund Managers Ltd purchased a new position in PubMatic during the fourth quarter worth $111,000. Davidson Kempner Capital Management LP bought a new stake in shares of PubMatic during the 4th quarter worth approximately $223,000. Westwood Management Corp IL purchased a new stake in PubMatic in the first quarter worth $296,000. STA Wealth Management LLC purchased a new stake in shares of PubMatic in the fourth quarter valued at approximately $336,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in PubMatic in the first quarter worth approximately $494,000.
About PubMatic (NASDAQ:PUBM)
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 PubMatic Cloud, which offers a customizable platform as a service; 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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