LiveRamp (NYSE:RAMP) to Buyback $200.00 million in Stock

LiveRamp (NYSE:RAMP) declared that its Board of Directors has approved a share buyback program on Thursday, February 12th, RTT News reports. The company plans to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 13.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

RAMP has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective 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. Zacks Research lowered shares of LiveRamp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Cross Research set a $53.00 price target on LiveRamp in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of LiveRamp in a report on Monday, December 29th. Finally, DA Davidson dropped their target price on LiveRamp from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.40.

LiveRamp Trading Down 0.2%

Shares of NYSE:RAMP traded down $0.04 on Thursday, hitting $23.18. 939,780 shares of the company were exchanged, compared to its average volume of 643,168. The firm has a market capitalization of $1.46 billion, a P/E ratio of 21.87 and a beta of 1.13. LiveRamp has a 1-year low of $21.71 and a 1-year high of $35.20. The stock’s 50 day moving average price is $27.06 and its 200 day moving average price is $27.82.

LiveRamp (NYSE:RAMP) last issued its earnings results on Thursday, February 5th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $212.20 million during the quarter, compared to analyst estimates of $211.68 million. LiveRamp had a return on equity of 6.40% and a net margin of 8.64%.The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. On average, equities analysts predict that LiveRamp will post 0.48 EPS for the current fiscal year.

About LiveRamp

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.