The Rubicon Project, Inc. (NYSE:RUBI) had its target price reduced by analysts at Citigroup Inc. from $4.00 to $3.00 in a report issued on Friday. The firm presently has a “neutral” rating on the software maker’s stock. Citigroup Inc.’s target price points to a potential downside of 13.04% from the company’s current price.

A number of other research analysts also recently issued reports on RUBI. BidaskClub downgraded shares of The Rubicon Project from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Zacks Investment Research upgraded shares of The Rubicon Project from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research report on Thursday, July 13th. B. Riley restated a “neutral” rating and issued a $5.00 price target on shares of The Rubicon Project in a research report on Wednesday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of The Rubicon Project in a research report on Thursday, August 24th. Finally, ValuEngine downgraded shares of The Rubicon Project from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $5.77.

Shares of The Rubicon Project (NYSE:RUBI) traded down $0.11 during mid-day trading on Friday, reaching $3.45. 323,361 shares of the company’s stock traded hands, compared to its average volume of 290,174.

The Rubicon Project (NYSE:RUBI) last posted its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.02). The Rubicon Project had a negative return on equity of 8.38% and a negative net margin of 77.31%. The business had revenue of $35.20 million during the quarter, compared to the consensus estimate of $39.38 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The company’s quarterly revenue was down 41.9% compared to the same quarter last year. research analysts anticipate that The Rubicon Project will post -0.93 EPS for the current year.

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A number of large investors have recently modified their holdings of RUBI. Bank of New York Mellon Corp lifted its position in The Rubicon Project by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 195,044 shares of the software maker’s stock valued at $1,149,000 after purchasing an additional 6,413 shares during the last quarter. Swiss National Bank lifted its position in The Rubicon Project by 9.7% in the 1st quarter. Swiss National Bank now owns 56,400 shares of the software maker’s stock valued at $332,000 after purchasing an additional 5,000 shares during the last quarter. American International Group Inc. lifted its position in The Rubicon Project by 7.0% in the 1st quarter. American International Group Inc. now owns 22,916 shares of the software maker’s stock valued at $135,000 after purchasing an additional 1,509 shares during the last quarter. Alliancebernstein L.P. lifted its position in The Rubicon Project by 146.0% in the 1st quarter. Alliancebernstein L.P. now owns 77,500 shares of the software maker’s stock valued at $456,000 after purchasing an additional 46,000 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in The Rubicon Project by 20.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 408,411 shares of the software maker’s stock valued at $2,406,000 after purchasing an additional 68,220 shares during the last quarter. Hedge funds and other institutional investors own 62.27% of the company’s stock.

About The Rubicon Project

The Rubicon Project, Inc offers a technology solution to automate the purchase and sale of advertising for buyers and sellers. The Company’s solution enables buyers and sellers to purchase and sell a range of advertising units, including display and video; utilizing various inventory types, including direct sale of inventory and real-time bidding (RTB), and across digital channels, including mobile Web, mobile application and desktop, as well as across various out of home channels, such as digital billboards.

Analyst Recommendations for The Rubicon Project (NYSE:RUBI)

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