LiveRamp (NYSE:RAMP) Hits New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. DA Davidson cut shares of LiveRamp from a “buy” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $38.50 in a research note on Monday, May 18th. Weiss Ratings cut shares of LiveRamp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Morgan Stanley set a $38.50 target price on shares of LiveRamp in a research note on Friday, May 22nd. Evercore assumed coverage on shares of LiveRamp in a research note on Tuesday, March 24th. They set an “outperform” rating and a $37.00 target price for the company. Finally, Craig Hallum cut shares of LiveRamp from a “buy” rating to a “hold” rating and set a $38.50 price objective for the company. in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.21.

LiveRamp Stock Performance

The firm has a market cap of $2.26 billion, a P/E ratio of 16.47 and a beta of 1.27. The stock’s 50 day simple moving average is $31.47 and its 200 day simple moving average is $28.73.

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

LiveRamp announced that its board has initiated a stock buyback program on Thursday, February 12th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 13.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of LiveRamp

Several institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC grew its position in LiveRamp by 769.1% during the first quarter. Sound Income Strategies LLC now owns 1,069 shares of the company’s stock valued at $28,000 after buying an additional 946 shares during the period. Headlands Technologies LLC bought a new position in LiveRamp during the second quarter valued at about $31,000. Strs Ohio bought a new position in LiveRamp during the first quarter valued at about $31,000. Hantz Financial Services Inc. grew its position in LiveRamp by 197.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,096 shares of the company’s stock valued at $32,000 after buying an additional 727 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in LiveRamp during the third quarter valued at about $38,000. 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.