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

LiveRamp (NYSE:RAMPGet Rating) issued its earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07, Briefing.com reports. LiveRamp had a negative return on equity of 1.93% and a negative net margin of 6.93%. The company had revenue of $142.00 million for the quarter, compared to analysts’ expectations of $138.97 million. During the same period last year, the business earned $0.09 EPS. LiveRamp’s quarterly revenue was up 19.3% compared to the same quarter last year. LiveRamp updated its FY 2023 guidance to EPS and its Q2 2023 guidance to EPS.

LiveRamp Stock Down 15.0 %

RAMP traded down $4.20 during trading hours on Friday, hitting $23.82. The stock had a trading volume of 1,359,475 shares, compared to its average volume of 676,082. The company’s fifty day simple moving average is $26.97 and its 200 day simple moving average is $33.27. LiveRamp has a 1 year low of $22.32 and a 1 year high of $58.74. The stock has a market cap of $1.64 billion, a PE ratio of -46.71 and a beta of 1.16.

Institutional Investors Weigh In On LiveRamp

Several large investors have recently added to or reduced their stakes in RAMP. Advisor Group Holdings Inc. boosted its stake in LiveRamp by 14.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,029 shares of the company’s stock worth $113,000 after purchasing an additional 378 shares during the period. Advisors Asset Management Inc. increased its stake in LiveRamp by 214.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,656 shares of the company’s stock worth $62,000 after purchasing an additional 1,130 shares during the period. Sei Investments Co. increased its stake in LiveRamp by 4.0% in the 1st quarter. Sei Investments Co. now owns 61,126 shares of the company’s stock worth $2,286,000 after purchasing an additional 2,352 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in LiveRamp by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,955 shares of the company’s stock worth $933,000 after purchasing an additional 2,379 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in LiveRamp by 8.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 37,300 shares of the company’s stock worth $1,433,000 after purchasing an additional 2,811 shares during the period. Hedge funds and other institutional investors own 92.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RAMP. Susquehanna cut their target price on LiveRamp from $50.00 to $45.00 and set a “positive” rating on the stock in a report on Friday. Stephens lowered their price target on LiveRamp from $67.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. Craig Hallum decreased their target price on LiveRamp from $60.00 to $30.00 in a research report on Wednesday, May 25th. Morgan Stanley decreased their target price on LiveRamp from $41.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Finally, Susquehanna Bancshares decreased their target price on LiveRamp from $50.00 to $45.00 and set a “positive” rating for the company in a research report on Friday. Nine analysts have rated the stock with a buy rating, According to MarketBeat, LiveRamp currently has an average rating of “Buy” and an average price target of $56.00.

About LiveRamp

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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; Safe Haven, an enterprise data enablement platform; LiveRamp Data Marketplace, a solution that seamlessly connects data owners' audience data across the marketing ecosystem; and AbiliTec, an offline identity resolution platform.

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Earnings History for LiveRamp (NYSE:RAMP)

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