UPDATE: BMO Capital Downgrades LiveRamp Holdings Inc. (RAMP) to Market Perform; Hurt by Google News
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BMO Capital analyst Daniel Salmon downgraded LiveRamp Holdings Inc. (NYSE: RAMP) from Outperform to Market Perform with a price target of $65.00 (from $80.00).
The analyst commented, "We believe GOOG’s confirmation that it will not integrate “alternative identifiers” could slow RAMP’s sales cycle as ecosystem constituents re-evaluate the best approach forward during 2021. We think further clarity and revenue re-acceleration are possible in 2022 (when GOOG finalizes its cookie roadmap, among other things), but visibility today is limited. We believe RAMP operates in-line with AAPL and GOOG’s focus on more consent and the end of 3P cookies; it is the pushback on 1x1 in favor of cohorts where we think RAMP will need to better educate customers."
Shares of LiveRamp Holdings Inc. closed at $59.12 yesterday.
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