The Rubicon Project, Inc. (RUBI) Price Target Cut to $3.00

The Rubicon Project, Inc. (NYSE:RUBI) had its price objective lowered by Citigroup Inc. from $4.00 to $3.00 in a report issued on Friday, November 3rd. The firm currently has a neutral rating on the software maker’s stock.

Several other research firms also recently commented 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. B. Riley reaffirmed a neutral rating and issued a $5.00 price target on shares of The Rubicon Project in a research report on Tuesday, September 12th. Needham & Company LLC reaffirmed a hold rating on shares of The Rubicon Project in a research report on Thursday, August 24th. Finally, Zacks Investment Research raised 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. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock currently has an average rating of Hold and an average target price of $5.61.

Shares of The Rubicon Project (NYSE RUBI) traded down $0.02 during mid-day trading on Friday, reaching $1.80. The company had a trading volume of 618,334 shares, compared to its average volume of 692,009. The Rubicon Project has a 1-year low of $1.77 and a 1-year high of $9.16.

The Rubicon Project (NYSE:RUBI) last issued its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $35.20 million during the quarter, compared to the consensus estimate of $39.38 million. The Rubicon Project had a negative return on equity of 9.23% and a negative net margin of 77.31%. The business’s quarterly revenue was down 41.9% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. analysts anticipate that The Rubicon Project will post -2.58 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Algert Global LLC bought a new position in The Rubicon Project during the third quarter worth about $794,000. Cubist Systematic Strategies LLC lifted its stake in The Rubicon Project by 308.5% during the third quarter. Cubist Systematic Strategies LLC now owns 39,706 shares of the software maker’s stock worth $154,000 after purchasing an additional 29,985 shares during the period. Highbridge Capital Management LLC lifted its stake in The Rubicon Project by 34.3% during the third quarter. Highbridge Capital Management LLC now owns 117,621 shares of the software maker’s stock worth $458,000 after purchasing an additional 30,014 shares during the period. Sessa Capital IM L.P. raised its stake in shares of The Rubicon Project by 76.5% in the third quarter. Sessa Capital IM L.P. now owns 2,262,748 shares of the software maker’s stock valued at $8,802,000 after acquiring an additional 980,420 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of The Rubicon Project by 154.7% in the third quarter. Royce & Associates LP now owns 234,817 shares of the software maker’s stock valued at $913,000 after acquiring an additional 142,617 shares during the last quarter. Hedge funds and other institutional investors own 63.22% of the company’s stock.

The Rubicon Project Company Profile

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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