Liveramp surges after Q4 revenue beat estimates

Liveramp Holdings

23/05/2024 16:10

** Shares of data connectivity platform Liveramp  RAMP.N 
jump 11.6% to $36
    ** Co's Q4 revenue up ~16% YoY to $172 million, exceeding
analysts' estimates of $160.6 million - LSEG data
    ** Quarterly non-GAAP diluted profit was 25 cents/shr, above
analysts' estimates of 19 cents/shr
    ** Majority of the upside was driven by our marketplace
business, but subscription also overperformed in the H2, said
CEO Scott Howe
    ** RAMP says its subscription revenue was up 11% to $134
million, while marketplace and other revenue was $38 million, up
38%
    ** RAMP sees FY 2025 revenue between $710 mln - $730 mln,
meeting analysts' expectations of $722 million - LSEG data
    ** Benchmark raises its target price to $56 from $51,
expressing optimism that "RAMP is potentially well-positioned to
eclipse the high-end of its revenue guidance"
    ** Seven of nine brokerages rate the stock "buy" or higher
and two "hold"; their median PT is $50
    ** Including session's gains, RAMP stock down 5% YTD

 (Reporting by Nikhil Sharma in Bengaluru)
 ((nikhil.sharma@thomsonreuters.com))