LiveRamp (NYSE:RAMP) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

LiveRamp (NYSE:RAMPGet Rating) issued its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07, Briefing.com reports. LiveRamp had a negative net margin of 6.93% and a negative return on equity of 1.93%. The firm had revenue of $142.00 million for the quarter, compared to the consensus estimate of $138.97 million. During the same period last year, the firm posted $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 Price Performance

Shares of RAMP traded down $4.20 during mid-day trading on Friday, hitting $23.82. The company’s stock had a trading volume of 1,359,475 shares, compared to its average volume of 676,082. The firm has a 50-day moving average price of $26.97 and a 200 day moving average price of $33.27. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -46.71 and a beta of 1.16. LiveRamp has a fifty-two week low of $22.32 and a fifty-two week high of $58.74.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of LiveRamp by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,682,001 shares of the company’s stock worth $249,840,000 after acquiring an additional 51,639 shares in the last quarter. Capital International Investors increased its position in shares of LiveRamp by 8.7% in the first 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 in the last quarter. Lazard Asset Management LLC increased its position in shares of LiveRamp by 13.9% in the first 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 in the last quarter. State Street Corp increased its position in shares of LiveRamp by 2.7% in the first quarter. State Street Corp now owns 2,173,020 shares of the company’s stock worth $81,249,000 after acquiring an additional 56,364 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of LiveRamp by 0.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,409,975 shares of the company’s stock worth $52,719,000 after acquiring an additional 6,017 shares in the last quarter. 92.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on RAMP. Stephens dropped their price target on shares of LiveRamp from $67.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 25th. Susquehanna dropped their price target on shares of LiveRamp from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Friday. Craig Hallum dropped their price target on shares of LiveRamp from $60.00 to $30.00 in a research report on Wednesday, May 25th. Susquehanna Bancshares dropped their price target on shares of LiveRamp from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Friday. Finally, Morgan Stanley lowered their price objective on shares of LiveRamp from $41.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price 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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