LiveRamp (NYSE:RAMP) Shares Gap Up - Should You Buy?

LiveRamp Holdings, Inc. (NYSE:RAMP - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $26.32, but opened at $28.91. LiveRamp shares last traded at $28.73, with a volume of 204,142 shares.

Analysts Set New Price Targets

A number of brokerages have recently commented on RAMP. Evercore ISI decreased their price target on shares of LiveRamp from $50.00 to $40.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Benchmark reduced their target price on shares of LiveRamp from $48.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday. Craig Hallum reduced their target price on shares of LiveRamp from $55.00 to $43.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Macquarie reaffirmed an "outperform" rating and set a $43.00 target price on shares of LiveRamp in a report on Thursday. Finally, Wells Fargo & Company initiated coverage on shares of LiveRamp in a report on Monday, October 28th. They set an "equal weight" rating and a $25.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.14.

LiveRamp Trading Up 8.4 %

The firm has a market cap of $1.90 billion, a P/E ratio of 316.92 and a beta of 0.96. The business's fifty day simple moving average is $25.03 and its 200-day simple moving average is $28.31.

LiveRamp (NYSE:RAMP - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. LiveRamp had a net margin of 0.88% and a return on equity of 2.14%. The firm had revenue of $175.96 million during the quarter, compared to analysts' expectations of $171.92 million. During the same period last year, the company posted $0.09 EPS. The company's quarterly revenue was up 14.2% compared to the same quarter last year. Analysts anticipate that LiveRamp Holdings, Inc. will post 0.37 earnings per share for the current year.

Insider Activity at LiveRamp

In related news, CTO Mohsin Hussain sold 5,773 shares of LiveRamp stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $25.98, for a total transaction of $149,982.54. Following the completion of the transaction, the chief technology officer now directly owns 73,614 shares of the company's stock, valued at $1,912,491.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other LiveRamp news, insider Kimberly Bloomston sold 4,000 shares of LiveRamp stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $25.17, for a total value of $100,680.00. Following the completion of the sale, the insider now owns 117,247 shares of the company's stock, valued at approximately $2,951,106.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mohsin Hussain sold 5,773 shares of LiveRamp stock in a transaction on Friday, August 30th. The stock was sold at an average price of $25.98, for a total value of $149,982.54. Following the completion of the sale, the chief technology officer now directly owns 73,614 shares of the company's stock, valued at approximately $1,912,491.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,538 shares of company stock valued at $495,471 in the last three months. Company insiders own 3.39% of the company's stock.

Hedge Funds Weigh In On LiveRamp

A number of institutional investors and hedge funds have recently modified their holdings of RAMP. DT Investment Partners LLC bought a new stake in LiveRamp during the second quarter valued at about $27,000. Quarry LP raised its holdings in LiveRamp by 4,575.0% during the second quarter. Quarry LP now owns 935 shares of the company's stock valued at $29,000 after acquiring an additional 915 shares during the period. Blue Trust Inc. raised its holdings in LiveRamp by 187.1% during the second quarter. Blue Trust Inc. now owns 1,065 shares of the company's stock valued at $33,000 after acquiring an additional 694 shares during the period. Covestor Ltd raised its holdings in LiveRamp by 44.9% during the first quarter. Covestor Ltd now owns 2,131 shares of the company's stock valued at $73,000 after acquiring an additional 660 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in LiveRamp during the first quarter valued at about $87,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

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.