LiveRamp (NYSE:RAMP) Given New $30.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has reduced its price target for LiveRamp (NYSE:RAMP) from $34.00 to $30.00, maintaining an "equal weight" rating, indicating a potential upside of 16.59% from the current stock price.
• LiveRamp's stock has a consensus rating of "Moderate Buy" with a target price of $40.83, influenced by various analyst ratings including a "buy" from Benchmark with a target of $51.00.
• In its latest earnings report, LiveRamp exceeded analysts' expectations with earnings per share of $0.44 and revenue of $194.82 million, marking a 10.7% increase from the previous year.

LiveRamp (NYSE:RAMP - Free Report) had its price target trimmed by Morgan Stanley from $34.00 to $30.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages have also commented on RAMP. Benchmark reissued a "buy" rating and set a $51.00 price objective (up previously from $48.00) on shares of LiveRamp in a report on Tuesday, August 5th. Wall Street Zen upgraded LiveRamp from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Evercore ISI restated an "underperform" rating on shares of LiveRamp in a research note on Wednesday, April 16th. DA Davidson assumed coverage on LiveRamp in a research note on Wednesday, July 9th. They set a "buy" rating and a $45.00 target price for the company. Finally, Wells Fargo & Company increased their target price on LiveRamp from $26.00 to $31.00 and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.83.

LiveRamp Stock Performance

Shares of NYSE RAMP traded up $0.84 during mid-day trading on Tuesday, reaching $26.64. 918,630 shares of the company traded hands, compared to its average volume of 579,907. The stock has a market cap of $1.75 billion, a PE ratio of 121.10 and a beta of 1.00. The company's fifty day moving average is $31.73 and its two-hundred day moving average is $29.95. LiveRamp has a fifty-two week low of $22.82 and a fifty-two week high of $36.08.

LiveRamp (NYSE:RAMP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $194.82 million for the quarter, compared to analyst estimates of $191.22 million. LiveRamp had a return on equity of 2.21% and a net margin of 1.89%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. Research analysts forecast that LiveRamp will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Timothy R. Cadogan sold 2,500 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the transaction, the director directly owned 55,470 shares of the company's stock, valued at approximately $1,885,980. This represents a 4.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mohsin Hussain sold 17,529 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $33.00, for a total value of $578,457.00. Following the completion of the transaction, the chief technology officer directly owned 79,616 shares of the company's stock, valued at approximately $2,627,328. The trade was a 18.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LiveRamp

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of LiveRamp in the 2nd quarter worth approximately $31,000. Strs Ohio acquired a new stake in LiveRamp during the 1st quarter valued at $31,000. Quarry LP increased its holdings in LiveRamp by 344.4% during the 4th quarter. Quarry LP now owns 1,462 shares of the company's stock valued at $44,000 after purchasing an additional 1,133 shares in the last quarter. State of Wyoming acquired a new stake in LiveRamp during the 1st quarter valued at $49,000. Finally, Blue Trust Inc. increased its holdings in LiveRamp by 63.0% during the 1st quarter. Blue Trust Inc. now owns 2,558 shares of the company's stock valued at $67,000 after purchasing an additional 989 shares in the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

About LiveRamp

LiveRamp Holdings, Inc, a technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally. The company operates LiveRamp Data Collaboration platform enables an organization to unify customer and prospect data to build a single view of the customer in a way that protects consumer privacy.