The Rubicon Project (NYSE:RUBI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $5.00 target price on the software maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 8.23% from the stock’s current price.

According to Zacks, “The Rubicon Project, Inc. is a global technology company that focuses to automate the buying and selling of advertising. The Company’s Advertising Automation Cloud is a scalable software platform that powers and optimizes a marketplace for the real time trading of digital advertising between buyers and sellers. Its advertising automation cloud incorporates machine-learning algorithms, data processing, high volume storage, detailed analytics capabilities, and a distributed infrastructure. The Rubicon Project, Inc. is headquartered in Los Angeles, California. “

RUBI has been the subject of several other research reports. SunTrust Banks reissued a “buy” rating and set a $4.00 price objective on shares of The Rubicon Project in a research report on Thursday, August 2nd. Craig Hallum reissued a “buy” rating on shares of The Rubicon Project in a research report on Friday, October 12th.

NYSE RUBI opened at $4.62 on Thursday. The Rubicon Project has a twelve month low of $1.48 and a twelve month high of $4.71. The stock has a market cap of $223.82 million, a P/E ratio of -4.16 and a beta of 1.24.

The Rubicon Project (NYSE:RUBI) last posted its quarterly earnings data on Wednesday, November 7th. The software maker reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.05. The Rubicon Project had a negative return on equity of 45.33% and a negative net margin of 72.75%. The business had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $28.93 million. Analysts forecast that The Rubicon Project will post -1.21 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Hartford Investment Management Co. bought a new position in The Rubicon Project during the second quarter valued at about $335,000. CAPROCK Group Inc. bought a new position in The Rubicon Project during the third quarter valued at about $144,000. B. Riley Financial Inc. increased its stake in The Rubicon Project by 1,952.4% during the second quarter. B. Riley Financial Inc. now owns 2,052,398 shares of the software maker’s stock valued at $5,849,000 after acquiring an additional 1,952,398 shares during the period. Perkins Capital Management Inc. increased its stake in The Rubicon Project by 30.5% during the third quarter. Perkins Capital Management Inc. now owns 680,500 shares of the software maker’s stock valued at $2,450,000 after acquiring an additional 159,000 shares during the period. Finally, Engineers Gate Manager LP bought a new position in The Rubicon Project during the second quarter valued at about $196,000. Hedge funds and other institutional investors own 58.34% of the company’s stock.

About The Rubicon Project

The Rubicon Project, Inc provides technology solutions to automate the purchase and sale of digital advertising inventory for buyers and sellers in the United States and internationally. It offers applications and services for digital advertising inventory sellers, including Websites, mobile applications, and other digital media properties, to sell their advertising inventory; applications and services for buyers, such as advertisers, agencies, agency trading desks, and demand side platforms, to buy advertising inventory; and a marketplace over which such transactions are executed.

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