Share Repurchase Program Announced by LiveRamp (NYSE:RAMP)

LiveRamp (NYSE:RAMP) declared that its board has authorized a stock repurchase program on Thursday, February 12th, RTT News reports. The company plans to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

LiveRamp Trading Down 0.2%

NYSE:RAMP traded down $0.04 during trading hours on Thursday, hitting $23.18. The company had a trading volume of 939,780 shares, compared to its average volume of 643,168. LiveRamp has a 1 year low of $21.71 and a 1 year high of $35.20. The company has a 50-day moving average of $27.06 and a 200 day moving average of $27.82. The company has a market cap of $1.46 billion, a P/E ratio of 21.87 and a beta of 1.13.

LiveRamp (NYSE:RAMP) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. LiveRamp had a net margin of 8.64% and a return on equity of 6.40%. The firm had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $211.68 million. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that LiveRamp will post 0.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on RAMP shares. Cross Research set a $53.00 price objective on LiveRamp in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of LiveRamp in a research note on Monday, December 29th. Benchmark lowered their target price on shares of LiveRamp from $53.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. DA Davidson dropped their target price on shares of LiveRamp from $45.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 6th. Finally, Wells Fargo & Company boosted their price target on shares of LiveRamp from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.40.

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.