Investment analysts at Albert Fried & Company initiated coverage on shares of The Rubicon Project Inc. (NYSE:RUBI) in a research note issued to investors on Friday. The brokerage set a “market perform” rating on the stock.
A number of other brokerages have also issued reports on RUBI. Needham & Company LLC reissued a “buy” rating on shares of The Rubicon Project in a research note on Monday, June 27th. First Analysis lowered shares of The Rubicon Project from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $10.50 in a research note on Tuesday, August 16th. Citigroup Inc. lowered shares of The Rubicon Project from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $17.00 in a research note on Wednesday, August 3rd. Cantor Fitzgerald reaffirmed a “hold” rating on shares of The Rubicon Project in a research note on Friday, August 19th. Finally, B. Riley reaffirmed a “buy” rating and issued a $26.00 price objective on shares of The Rubicon Project in a research note on Sunday, July 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $16.41.
Shares of The Rubicon Project (NYSE:RUBI) traded up 0.36% during midday trading on Friday, hitting $8.30. The company’s stock had a trading volume of 166,156 shares. The firm has a 50-day moving average of $8.78 and a 200 day moving average of $13.77. The Rubicon Project has a 12-month low of $8.04 and a 12-month high of $20.37. The firm has a market cap of $406.04 million, a price-to-earnings ratio of 23.78 and a beta of 1.54.
The Rubicon Project (NYSE:RUBI) last issued its earnings results on Tuesday, August 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. The company earned $65.10 million during the quarter, compared to analyst estimates of $63.76 million. The Rubicon Project had a net margin of 6.15% and a return on equity of 13.18%. The company’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. On average, equities research analysts predict that The Rubicon Project will post $0.88 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its stake in The Rubicon Project by 80.3% in the first quarter. Primecap Management Co. CA now owns 4,321,300 shares of the company’s stock worth $78,993,000 after buying an additional 1,924,400 shares during the last quarter. Bank of Montreal Can acquired a new stake in The Rubicon Project during the second quarter worth $19,748,000. Numeric Investors LLC acquired a new stake in The Rubicon Project during the second quarter worth $9,266,000. Conestoga Capital Advisors LLC boosted its stake in The Rubicon Project by 92.1% in the second quarter. Conestoga Capital Advisors LLC now owns 934,580 shares of the company’s stock worth $12,757,000 after buying an additional 447,954 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in The Rubicon Project by 45.0% in the second quarter. BlackRock Fund Advisors now owns 963,074 shares of the company’s stock worth $13,146,000 after buying an additional 298,788 shares during the last quarter. 65.09% 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 both 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, real-time bidding (RTB) and static bidding, 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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