LiveRamp (NYSE:RAMP) Sees Unusually-High Trading Volume – Time to Buy?

LiveRamp Holdings, Inc. (NYSE:RAMP) shares saw unusually-strong trading volume on Wednesday . Approximately 1,223,405 shares changed hands during trading, an increase of 13% from the previous session’s volume of 1,082,195 shares.The stock last traded at $37.54 and had previously closed at $37.58.

Wall Street Analyst Weigh In

Several analysts have commented on RAMP shares. Benchmark dropped their target price on shares of LiveRamp from $53.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Craig Hallum downgraded shares of LiveRamp from a “buy” rating to a “hold” rating and set a $38.50 target price on the stock. in a report on Tuesday, May 19th. Wells Fargo & Company raised their target price on shares of LiveRamp from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, February 6th. Weiss Ratings upgraded shares of LiveRamp from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Finally, Evercore began coverage on shares of LiveRamp in a report on Tuesday, March 24th. They set an “outperform” rating and a $37.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.21.

LiveRamp Price Performance

The firm has a 50-day moving average of $30.11 and a 200 day moving average of $28.39. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 16.45 and a beta of 1.27.

LiveRamp (NYSE:RAMP) last issued its quarterly earnings results on Sunday, May 17th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. LiveRamp had a return on equity of 8.28% and a net margin of 17.95%.The firm had revenue of $206.09 million during the quarter, compared to analysts’ expectations of $205.49 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities analysts forecast that LiveRamp Holdings, Inc. will post 2.07 earnings per share for the current year.

LiveRamp declared that its board has approved a share repurchase program on Thursday, February 12th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 13.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On LiveRamp

A number of hedge funds and other institutional investors have recently bought and sold shares of RAMP. Royal Bank of Canada grew its holdings in LiveRamp by 246.4% during the first quarter. Royal Bank of Canada now owns 19,726 shares of the company’s stock worth $515,000 after purchasing an additional 14,031 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in LiveRamp during the first quarter worth about $212,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in LiveRamp by 1.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,234 shares of the company’s stock worth $999,000 after purchasing an additional 677 shares during the period. Goldman Sachs Group Inc. grew its holdings in LiveRamp by 6.9% during the first quarter. Goldman Sachs Group Inc. now owns 377,443 shares of the company’s stock worth $9,866,000 after purchasing an additional 24,330 shares during the period. Finally, Caxton Associates LLP bought a new position in LiveRamp during the first quarter worth about $309,000. Institutional investors own 93.83% of the company’s stock.

LiveRamp Company Profile

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.