LiveRamp Holdings Inc. (RAMP) PT Raised to $88 at Needham & Company

February 9, 2021 6:23 AM EST
Get Alerts RAMP Hot Sheet
Price: $46.92 +0.58%

Rating Summary:
    7 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 24 | New: 32
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Needham & Company analyst Jack Andrews raised the price target on LiveRamp Holdings Inc. (NYSE: RAMP) to $88.00 (from $85.00) while maintaining a Buy rating.

The analyst commented, "RAMP reported good 3QFY21 results as revenue and EPS were ahead of consensus, but directional guidance introduced for FY22 was below consensus. The removal of cookies from Google Chrome is expected to create material headwinds as large marketing clouds unwind their licensed usage of RAMP's cookie-based identity graph in FY22. Absent these headwinds, we believe RAMP's guidance for FY22 implies its business is accelerating as new logo growth reverts to its pre-pandemic mean, ATS continues to gain traction in the market, and Safe Haven continues to create a major flywheel of growth. RAMP also used the earnings call to announce its acquisition of DataFleet, which provides a cloud-based platform to analyze across silos without moving data; we believe this unique acquisition further expands the TAM for Safe Haven. We reiterate our BUY rating."

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