LiveRamp (NYSE:RAMP) Hits New 1-Year High – Here’s What Happened

LiveRamp Holdings, Inc. (NYSE:RAMP) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $37.92 and last traded at $37.4910, with a volume of 765316 shares traded. The stock had previously closed at $37.54.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RAMP. Evercore began coverage on LiveRamp in a research note on Tuesday, March 24th. They issued an “outperform” rating and a $37.00 price target on the stock. Weiss Ratings downgraded LiveRamp from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Morgan Stanley set a $38.50 target price on LiveRamp in a research note on Friday, May 22nd. DA Davidson lowered LiveRamp from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $38.50 in a research report on Monday, May 18th. Finally, Craig Hallum cut shares of LiveRamp from a “buy” rating to a “hold” rating and set a $38.50 price target on the stock. in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.21.

LiveRamp Trading Down 0.2%

The firm has a market capitalization of $2.26 billion, a PE ratio of 16.49 and a beta of 1.27. The firm has a 50 day simple moving average of $31.92 and a 200 day simple moving average of $28.86.

LiveRamp (NYSE:RAMP) last announced its quarterly earnings results on Monday, May 18th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. LiveRamp had a return on equity of 8.28% and a net margin of 17.95%.The firm had revenue of $206.09 million for the quarter, compared to the consensus estimate of $205.49 million. During the same period in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Research analysts forecast that LiveRamp Holdings, Inc. will post 2.07 earnings per share for the current year.

LiveRamp declared that its board has authorized a stock repurchase plan on Thursday, February 12th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 13.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On LiveRamp

Hedge funds and other institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in LiveRamp during the fourth quarter valued at $55,256,000. Fort Washington Investment Advisors Inc. OH increased its holdings in LiveRamp by 37.0% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 1,960,674 shares of the company’s stock valued at $51,997,000 after buying an additional 529,485 shares during the last quarter. Boston Partners boosted its stake in shares of LiveRamp by 56.6% during the 3rd quarter. Boston Partners now owns 1,269,623 shares of the company’s stock worth $34,746,000 after acquiring an additional 459,094 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of LiveRamp by 15.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,772,213 shares of the company’s stock worth $73,519,000 after purchasing an additional 365,894 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in LiveRamp by 16.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,550,435 shares of the company’s stock valued at $41,118,000 after purchasing an additional 213,706 shares in the last quarter. 93.83% of the stock is owned by 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.