RAMP - Here's Why LiveRamp Stock Jumped to a New 52-Week High Today
2024-01-18 16:25:13 ET
Shares of advertising technology (adtech) company LiveRamp (NYSE: RAMP) jumped to a new 52-week high on Thursday after announcing a major acquisition and providing preliminary financial results to investors. As of 3:10 p.m. ET, LiveRamp stock was up 10.5%.
I'll start with the preliminary financial results: LiveRamp expects to report revenue of $174 million for the upcoming third quarter of its fiscal 2024. That would be good for 10% year-over-year growth, outpacing its 9% growth in the second quarter. Moreover, it expects to report operating income of $15 million, which is far more than its operating income of $8 million in Q2.
The preliminary financial results, therefore, were encouraging for LiveRamp. From here, the company is hoping to boost its business further by acquiring start-up Habu for $200 million.
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Here's Why LiveRamp Stock Jumped to a New 52-Week High Today