LiveRamp shares are trading higher after the company entered into an agreement to acquire Habu for about $200 million and reported preliminary Q3 revenue results above expectations. Also, Benchmark raised its price target from $44 to $51 on the stock.
Portfolio Pulse from Benzinga Newsdesk
LiveRamp (RAMP) shares are up following the announcement of its agreement to acquire Habu for approximately $200 million and reporting preliminary Q3 revenue results that exceeded expectations. Additionally, Benchmark has increased its price target for RAMP from $44 to $51.
January 18, 2024 | 4:05 pm
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POSITIVE IMPACT
LiveRamp's stock is positively impacted by the acquisition of Habu for $200 million and better-than-expected Q3 revenue, along with a raised price target from Benchmark.
The acquisition of Habu is likely to be viewed positively as it could enhance LiveRamp's product offerings and market position. The preliminary Q3 revenue exceeding expectations indicates strong financial performance, which is typically a bullish signal for investors. Benchmark's increased price target further validates the positive outlook for the stock, suggesting that analysts see more upside potential.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100