LiveRamp (NYSE:RAMP) Releases Earnings Results, Beats Expectations By $0.07 EPS

LiveRamp (NYSE:RAMP) issued its earnings results on Wednesday. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07, FiscalAI reports. LiveRamp had a net margin of 17.95% and a return on equity of 8.28%. The company had revenue of $213.99 million for the quarter, compared to analyst estimates of $211.45 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue was up 9.9% on a year-over-year basis.

LiveRamp Stock Performance

NYSE RAMP traded down $0.09 during mid-day trading on Wednesday, reaching $37.77. 855,353 shares of the stock were exchanged, compared to its average volume of 893,500. The stock has a market capitalization of $2.30 billion, a PE ratio of 16.57 and a beta of 1.29. LiveRamp has a 1-year low of $21.71 and a 1-year high of $38.23. The business’s fifty day simple moving average is $37.68 and its 200 day simple moving average is $31.28.

Wall Street Analysts Forecast Growth

RAMP has been the topic of several research analyst reports. Weiss Ratings lowered LiveRamp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 8th. Morgan Stanley set a $38.50 target price on LiveRamp in a report on Friday, May 22nd. DA Davidson lowered shares of LiveRamp from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $38.50 in a research report on Monday, May 18th. Finally, Craig Hallum downgraded shares of LiveRamp from a “buy” rating to a “hold” rating and set a $38.50 target price for the company. in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, LiveRamp presently has a consensus rating of “Hold” and an average price target of $40.21.

Institutional Trading of LiveRamp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in shares of LiveRamp by 246.4% in 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 stake in shares of LiveRamp during the 1st quarter worth $212,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of LiveRamp by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,234 shares of the company’s stock worth $999,000 after buying an additional 677 shares during the period. Goldman Sachs Group Inc. grew its position in LiveRamp by 6.9% during the first quarter. Goldman Sachs Group Inc. now owns 377,443 shares of the company’s stock valued at $9,866,000 after acquiring an additional 24,330 shares during the period. Finally, Caxton Associates LLP purchased a new position in shares of LiveRamp in the 1st quarter worth about $309,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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.