LiveRamp Holdings, Inc. (NYSE:RAMP – Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,516,609 shares traded hands during mid-day trading, an increase of 58% from the previous session’s volume of 961,358 shares.The stock last traded at $37.63 and had previously closed at $37.70.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on RAMP shares. DA Davidson cut shares of LiveRamp from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $35.00 to $38.50 in a research report on Monday, May 18th. Benchmark cut their price objective on LiveRamp from $53.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Wells Fargo & Company lifted their target price on LiveRamp from $34.00 to $38.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Morgan Stanley set a $38.50 target price on LiveRamp in a research note on Friday, May 22nd. Finally, Weiss Ratings upgraded LiveRamp from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.21.
Read Our Latest Report on LiveRamp
LiveRamp Stock Performance
LiveRamp (NYSE:RAMP – Get Free Report) last posted its quarterly earnings results on Sunday, May 17th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. LiveRamp had a net margin of 17.95% and a return on equity of 8.28%. The firm had revenue of $206.09 million during the quarter, compared to analysts’ expectations of $205.49 million. During the same period in the prior year, the company posted $0.30 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts predict that LiveRamp Holdings, Inc. will post 2.07 EPS for the current fiscal year.
LiveRamp announced that its Board of Directors has approved a stock buyback plan on Thursday, February 12th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 13.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Azzad Asset Management Inc. ADV boosted its stake in shares of LiveRamp by 1.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 32,887 shares of the company’s stock worth $872,000 after acquiring an additional 353 shares in the last quarter. Lido Advisors LLC increased its stake in LiveRamp by 4.8% in the 4th quarter. Lido Advisors LLC now owns 9,418 shares of the company’s stock valued at $261,000 after purchasing an additional 429 shares in the last quarter. NewEdge Advisors LLC increased its stake in LiveRamp by 6.1% in the 1st quarter. NewEdge Advisors LLC now owns 8,026 shares of the company’s stock valued at $213,000 after purchasing an additional 465 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in LiveRamp by 4.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 10,169 shares of the company’s stock worth $299,000 after purchasing an additional 470 shares during the last quarter. Finally, Engineers Gate Manager LP raised its holdings in LiveRamp by 0.5% during the second quarter. Engineers Gate Manager LP now owns 113,424 shares of the company’s stock worth $3,748,000 after purchasing an additional 561 shares during the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.
About LiveRamp
LiveRamp Holdings, Inc is a leading provider of data connectivity and identity resolution services for marketers, publishers and platforms. The company’s core technology enables organizations to link disparate data sources—such as CRM systems, web engagements and offline transaction records—into a single, privacy-safe view of individual consumers. By standardizing and anonymizing identifiers, LiveRamp’s platform facilitates targeted media activation, measurement and analytics across digital, mobile, addressable TV and offline channels.
The company offers a suite of products designed to support every stage of the data lifecycle.
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