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

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

LiveRamp Price Performance

RAMP stock traded down $4.20 on Friday, reaching $23.82. 1,374,535 shares of the company were exchanged, compared to its average volume of 676,082. LiveRamp has a 12 month low of $22.32 and a 12 month high of $58.74. The stock’s fifty day moving average price is $26.97 and its 200 day moving average price is $33.27. The firm has a market capitalization of $1.64 billion, a PE ratio of -46.71 and a beta of 1.16.

Institutional Investors Weigh In On LiveRamp

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in LiveRamp by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,682,001 shares of the company’s stock worth $249,840,000 after buying an additional 51,639 shares in the last quarter. Capital International Investors boosted its position in LiveRamp by 8.7% during the 1st quarter. Capital International Investors now owns 3,065,422 shares of the company’s stock worth $114,616,000 after acquiring an additional 244,405 shares during the last quarter. Lazard Asset Management LLC boosted its position in LiveRamp by 13.9% during the 1st quarter. Lazard Asset Management LLC now owns 2,883,554 shares of the company’s stock worth $107,815,000 after acquiring an additional 351,876 shares during the last quarter. State Street Corp boosted its holdings in shares of LiveRamp by 2.7% in the 1st quarter. State Street Corp now owns 2,173,020 shares of the company’s stock valued at $81,249,000 after buying an additional 56,364 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of LiveRamp by 0.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,409,975 shares of the company’s stock valued at $52,719,000 after buying an additional 6,017 shares during the last quarter. Institutional investors and hedge funds own 92.18% of the company’s stock.

Wall Street Analyst Weigh In

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

About LiveRamp

(Get Rating)

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.

See Also

Earnings History for LiveRamp (NYSE:RAMP)

Receive News & Ratings for LiveRamp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LiveRamp and related companies with MarketBeat.com's FREE daily email newsletter.