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The Rubicon Project (NASDAQ:RUBI) was upgraded by Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $18.00 target price on the stock, down from their previous target price of $19.00. Oppenheimer’s price objective points to a potential upside of 58.31% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on RUBI. Analysts at RBC Capital upgraded shares of The Rubicon Project from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. They now have a $19.00 price target on the stock, down previously from $22.00. Separately, analysts at Zacks initiated coverage on shares of The Rubicon Project in a research note on Wednesday, May 7th. They set a “hold” rating on the stock. Finally, analysts at Needham & Company LLC initiated coverage on shares of The Rubicon Project in a research note on Monday, April 28th. They set a “buy” rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.00.

The Rubicon Project (NASDAQ:RUBI) opened at 11.37 on Wednesday. The Rubicon Project has a one year low of $11.15 and a one year high of $23.20. The stock has a 50-day moving average of $17.52 and a 200-day moving average of $17.52. The company’s market cap is $394.7 million.

The Rubicon Project (NASDAQ:RUBI) last announced its earnings results on Tuesday, May 13th. The company reported ($0.15) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.42) by $0.27. The company had revenue of $23.00 million for the quarter, compared to the consensus estimate of $20.28 million. The Rubicon Project’s revenue was up 38.6% compared to the same quarter last year. On average, analysts predict that The Rubicon Project will post $-0.51 earnings per share for the current fiscal year.

The Rubicon Project, Inc is a global technology company that focuses to automate the buying and selling of advertising.

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