The Rubicon Project’s (RUBI) “Hold” Rating Reaffirmed at Needham & Company LLC
The Rubicon Project, Inc. (NYSE:RUBI)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday.
A number of other equities analysts have also issued reports on the company. Citigroup Inc. cut their target price on The Rubicon Project from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Friday. B. Riley reaffirmed a “hold” rating and issued a $3.00 target price on shares of The Rubicon Project in a research report on Friday. ValuEngine lowered The Rubicon Project from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. BidaskClub lowered The Rubicon Project from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research lowered The Rubicon Project from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The Rubicon Project currently has an average rating of “Hold” and a consensus price target of $5.77.
Shares of The Rubicon Project (RUBI) traded down $0.11 on Friday, hitting $3.45. The company’s stock had a trading volume of 323,361 shares, compared to its average volume of 290,174.
The Rubicon Project (NYSE:RUBI) last announced its earnings results on Thursday, November 2nd. The software maker reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.02). The Rubicon Project had a negative net margin of 77.31% and a negative return on equity of 8.38%. The business had revenue of $35.20 million during the quarter, compared to analyst estimates of $39.38 million. During the same period in the previous year, the company earned $0.20 earnings per share. The business’s revenue for the quarter was down 41.9% on a year-over-year basis. research analysts predict that The Rubicon Project will post -0.93 EPS for the current year.
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Several hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of The Rubicon Project during the 2nd quarter valued at approximately $445,000. Public Employees Retirement System of Ohio raised its position in shares of The Rubicon Project by 633.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 88,122 shares of the software maker’s stock valued at $453,000 after acquiring an additional 76,104 shares in the last quarter. California State Teachers Retirement System raised its position in shares of The Rubicon Project by 5.1% during the 2nd quarter. California State Teachers Retirement System now owns 78,664 shares of the software maker’s stock valued at $404,000 after acquiring an additional 3,800 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of The Rubicon Project by 20.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,052 shares of the software maker’s stock valued at $191,000 after acquiring an additional 6,178 shares in the last quarter. Finally, State Street Corp raised its position in shares of The Rubicon Project by 10.2% during the 2nd quarter. State Street Corp now owns 910,293 shares of the software maker’s stock valued at $4,681,000 after acquiring an additional 84,345 shares in the last quarter. 62.27% of the stock is currently owned by institutional investors and hedge funds.
About The Rubicon Project
The Rubicon Project, Inc offers a technology solution to automate the purchase and sale of advertising for buyers and sellers. The Company’s solution enables buyers and sellers to purchase and sell a range of advertising units, including display and video; utilizing various inventory types, including direct sale of inventory and real-time bidding (RTB), and across digital channels, including mobile Web, mobile application and desktop, as well as across various out of home channels, such as digital billboards.
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