Evercore Initiates Coverage on LiveRamp (NYSE:RAMP)

Analysts at Evercore started coverage on shares of LiveRamp (NYSE:RAMP) in a note issued to investors on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $37.00 price target on the stock. Evercore’s price objective suggests a potential upside of 44.84% from the stock’s previous close.

Other research analysts have also issued reports about the stock. DA Davidson cut their target price on shares of LiveRamp from $45.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 6th. Benchmark lowered their price objective on shares of LiveRamp from $53.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of LiveRamp in a research note on Monday, December 29th. Zacks Research downgraded shares of LiveRamp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Wells Fargo & Company upped their target price on shares of LiveRamp from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.00.

LiveRamp Trading Down 1.1%

NYSE:RAMP opened at $25.55 on Tuesday. The business’s 50-day moving average is $25.92 and its 200 day moving average is $27.51. LiveRamp has a 12 month low of $21.71 and a 12 month high of $35.20. The company has a market capitalization of $1.61 billion, a P/E ratio of 24.10 and a beta of 1.12.

LiveRamp (NYSE:RAMP) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. The business had revenue of $212.20 million during the quarter, compared to analysts’ expectations of $211.68 million. LiveRamp had a return on equity of 6.40% and a net margin of 8.64%.The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. On average, research analysts forecast that LiveRamp will post 0.48 earnings per share for the current year.

LiveRamp announced that its Board of Directors has initiated a share buyback program on Thursday, February 12th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 13.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On LiveRamp

Several hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in LiveRamp in the second quarter worth about $31,000. Strs Ohio purchased a new position in LiveRamp during the 1st quarter valued at about $31,000. Hantz Financial Services Inc. raised its holdings in shares of LiveRamp by 197.0% in the 4th quarter. Hantz Financial Services Inc. now owns 1,096 shares of the company’s stock valued at $32,000 after purchasing an additional 727 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of LiveRamp in the 3rd quarter valued at about $38,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of LiveRamp by 63.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the company’s stock worth $44,000 after purchasing an additional 583 shares during the period. Institutional investors own 93.83% of the company’s stock.

LiveRamp Company Profile

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.