Benchmark Lowers LiveRamp (NYSE:RAMP) Price Target to $38.00

LiveRamp (NYSE:RAMP) had its price target cut by equities researchers at Benchmark from $53.00 to $38.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 66.70% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley upped their target price on LiveRamp from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 13th. Zacks Research cut shares of LiveRamp from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Wells Fargo & Company raised their price objective on shares of LiveRamp from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Cross Research set a $53.00 price target on shares of LiveRamp in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LiveRamp in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.33.

LiveRamp Stock Down 7.0%

Shares of NYSE RAMP traded down $1.72 during mid-day trading on Tuesday, hitting $22.80. 210,199 shares of the company were exchanged, compared to its average volume of 536,754. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 37.33 and a beta of 1.13. The stock has a 50 day simple moving average of $28.00 and a 200-day simple moving average of $28.30. LiveRamp has a 1-year low of $22.77 and a 1-year high of $36.08.

LiveRamp (NYSE:RAMP) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $199.83 million for the quarter, compared to analyst estimates of $197.31 million. LiveRamp had a net margin of 5.15% and a return on equity of 4.44%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 earnings per share. Analysts anticipate that LiveRamp will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LiveRamp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of LiveRamp by 246.4% during the first quarter. Royal Bank of Canada now owns 19,726 shares of the company’s stock worth $515,000 after acquiring an additional 14,031 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in LiveRamp in the first quarter valued at $212,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in LiveRamp by 1.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,234 shares of the company’s stock valued at $999,000 after acquiring an additional 677 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of LiveRamp by 6.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 377,443 shares of the company’s stock valued at $9,866,000 after purchasing an additional 24,330 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of LiveRamp during the 1st quarter valued at $309,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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.