LiveRamp (NYSE:RAMP) Price Target Cut to $30.00 by Analysts at Craig Hallum

LiveRamp (NYSE:RAMP – Get Rating) had its price target lowered by investment analysts at Craig Hallum from $60.00 to $30.00 in a research report issued on Wednesday, The Fly reports. Craig Hallum’s target price would suggest a potential upside of 18.81% from the stock’s current price.

A number of other brokerages have also recently weighed in on RAMP. BMO Capital Markets raised shares of LiveRamp from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Tuesday, March 15th. Stephens dropped their target price on shares of LiveRamp from $67.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley dropped their target price on shares of LiveRamp from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, February 10th. Zacks Investment Research raised shares of LiveRamp from a “sell” rating to a “hold” rating in a report on Wednesday, March 2nd. Finally, TheStreet cut shares of LiveRamp from a “c-” rating to a “d+” rating in a report on Friday, April 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $61.90.

RAMP traded up $2.24 during trading on Wednesday, hitting $25.25. The company had a trading volume of 11,985 shares, compared to its average volume of 482,328. The company has a market cap of $1.72 billion, a PE ratio of -49.63 and a beta of 1.16. The business has a 50-day moving average of $33.39 and a 200-day moving average of $41.26. LiveRamp has a 1-year low of $22.75 and a 1-year high of $58.74.

LiveRamp (NYSE:RAMP – Get Rating) last posted its quarterly earnings results on Tuesday, May 24th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $142.00 million during the quarter, compared to analyst estimates of $139.34 million. LiveRamp had a negative net margin of 6.93% and a negative return on equity of 1.93%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.49) earnings per share. Sell-side analysts predict that LiveRamp will post 0.16 earnings per share for the current year.

In related news, CEO Scott E. Howe sold 55,000 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $30.90, for a total value of $1,699,500.00. Following the completion of the transaction, the chief executive officer now owns 720,542 shares in the company, valued at approximately $22,264,747.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.34% of the company’s stock.

Several large investors have recently bought and sold shares of RAMP. Hawk Ridge Capital Management LP bought a new position in shares of LiveRamp during the 1st quarter valued at about $25,888,000. Norges Bank bought a new position in shares of LiveRamp during the 4th quarter valued at about $30,011,000. Schroder Investment Management Group boosted its position in shares of LiveRamp by 29.3% during the 4th quarter. Schroder Investment Management Group now owns 2,307,847 shares of the company’s stock valued at $110,661,000 after purchasing an additional 523,243 shares in the last quarter. FMR LLC boosted its position in shares of LiveRamp by 7,200.2% during the 1st quarter. FMR LLC now owns 456,701 shares of the company’s stock valued at $24,923,000 after purchasing an additional 450,445 shares in the last quarter. Finally, RGM Capital LLC boosted its position in shares of LiveRamp by 14.9% during the 1st quarter. RGM Capital LLC now owns 2,954,389 shares of the company’s stock valued at $110,465,000 after purchasing an additional 383,047 shares in the last quarter. Institutional investors own 92.18% of the company’s stock.

About LiveRamp (Get Rating)

LiveRamp Holdings, Inc, a technology company, provides enterprise data connectivity platform solutions in the United States, Europe, and the Asia-Pacific. The company offers RampID, a true people-based identifier that provides activation, measurement and analytics, identity, data collaboration, and data marketplace solutions.

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