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

Shares of LiveRamp Holdings, Inc. (NYSE:RAMP) hit a new 52-week high during mid-day trading on Wednesday . The stock 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

RAMP has been the subject of several research analyst reports. Evercore initiated coverage on shares of LiveRamp in a research note on Tuesday, March 24th. They set an “outperform” rating and a $37.00 price target for the company. DA Davidson lowered shares of LiveRamp from a “buy” rating to a “neutral” rating and raised their price target for the stock from $35.00 to $38.50 in a research note on Monday, May 18th. Craig Hallum lowered shares of LiveRamp from a “buy” rating to a “hold” rating and set a $38.50 target price for the company. in a research report on Tuesday, May 19th. Morgan Stanley set a $38.50 target price on shares of LiveRamp in a research report on Friday, May 22nd. Finally, Weiss Ratings lowered shares of LiveRamp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, LiveRamp presently has an average rating of “Hold” and an average price target of $40.21.

LiveRamp Stock Performance

The business’s 50-day moving average price is $31.47 and its 200 day moving average price is $28.73. The stock has a market capitalization of $2.26 billion, a PE ratio of 16.47 and a beta of 1.27.

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

LiveRamp announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 12th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On LiveRamp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of LiveRamp during the second quarter worth approximately $31,000. Sound Income Strategies LLC lifted its stake in LiveRamp by 769.1% in the first quarter. Sound Income Strategies LLC now owns 1,069 shares of the company’s stock worth $28,000 after purchasing an additional 946 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in LiveRamp by 197.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,096 shares of the company’s stock worth $32,000 after purchasing an additional 727 shares during the last quarter. Strs Ohio bought a new stake in LiveRamp in the first quarter worth $31,000. Finally, Picton Mahoney Asset Management bought a new stake in LiveRamp in the third quarter worth $38,000. 93.83% of the stock is owned by hedge funds and other 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.