{"id":44101,"date":"2023-08-03T15:36:02","date_gmt":"2023-08-03T19:36:02","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/liveramp-to-see-gradual-revenue-growth-ahead-nyseramp\/"},"modified":"2023-08-03T15:36:05","modified_gmt":"2023-08-03T19:36:05","slug":"liveramp-to-see-gradual-revenue-growth-ahead-nyseramp","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44101","title":{"rendered":"LiveRamp To See Gradual Revenue Growth Ahead (NYSE:RAMP)"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"><picture>  <\/picture><figcaption> <\/figcaption><\/figure>\n<\/p>\n<h2>A Quick Take On LiveRamp<\/h2>\n<p><strong>LiveRamp Holdings, Inc.<\/strong> (<span class=\"ticker-hover-wrapper\">NYSE:RAMP<\/span>) provides identity resolution software and related capabilities for online marketing activities.<\/p>\n<p>I previously wrote about the company with a Hold outlook.<\/p>\n<p>Given management\u2019s slowing revenue growth outlook for<span class=\"paywall-full-content invisible\"> fiscal 2024, continued operating losses and difficult customer environment, I remain Neutral [Hold] on LiveRamp Holdings, Inc. stock in the near term.<\/span><\/p>\n<h2 class=\"paywall-full-content invisible\">LiveRamp Overview And Market<\/h2>\n<p class=\"paywall-full-content invisible\">San Francisco-based LiveRamp was founded to offer a suite of audience identification and data tools for online marketing purposes.<\/p>\n<p class=\"paywall-full-content invisible\">The firm is headed by Chief Executive Office Scott Howe, who was previously president and CEO of marketing services company Acxiom.<\/p>\n<p class=\"paywall-full-content invisible\">The company\u2019s primary offerings include:<\/p>\n<ul class=\"paywall-full-content invisible\">\n<li>\n<p>Identity resolution<\/p>\n<\/li>\n<li>\n<p>Data activation<\/p>\n<\/li>\n<li>\n<p>Measurement<\/p>\n<\/li>\n<li>\n<p>Data collaboration<\/p>\n<\/li>\n<li>\n<p>Marketplace.<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible\">The firm acquires customers via its direct sales teams as well as through partners and cloud provider channels.<\/p>\n<p class=\"paywall-full-content invisible\">According to<span class=\"paywall-full-content no-summary-bullets invisible\"> a 2021 market <\/span>research report<span class=\"paywall-full-content no-summary-bullets invisible\"> by MarTech referencing a report by Winterberry Group, the global market for identity resolution services is forecast to reach $2.6 billion by the end 2022.<\/span><\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">As marketers lose access to some forms of data such as via &#8220;cookies&#8221; from major mobile platforms from Apple and Google, data from alternative sources is becoming more valuable.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Different industries are more or less reliant on third-party cookies for their online marketing efforts, with the financial services and travel industries reporting the greatest reliance on cookies.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Major competitive vendors or other industry participants include:<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Intent IQ<\/p>\n<\/li>\n<li>\n<p>Saint-Gobain S.A Tapad<\/p>\n<\/li>\n<li>\n<p>Amperity<\/p>\n<\/li>\n<li>\n<p>Merkle<\/p>\n<\/li>\n<li>\n<p>Zeta Global<\/p>\n<\/li>\n<li>\n<p>Throtle<\/p>\n<\/li>\n<li>\n<p>Xoriant Katch<\/p>\n<\/li>\n<li>\n<p>Signal<\/p>\n<\/li>\n<li>\n<p>Neustar<\/p>\n<\/li>\n<li>\n<p>BounceX<\/p>\n<\/li>\n<li>\n<p>NetOwl<\/p>\n<\/li>\n<li>\n<p>Informatica<\/p>\n<\/li>\n<li>\n<p>Infutor<\/p>\n<\/li>\n<li>\n<p>Criteo.<\/p>\n<\/li>\n<\/ul>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">LiveRamp\u2019s Recent Financial Trends<\/h2>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Total revenue by quarter has plateaued recently; Operating losses continue and have worsened in the most recent quarter.<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/saupload_WTfe1fUimE1aj8iZ2hrci4ZEkb7YZWUeqsJqXEvzO3YrnbyZvoQJKKZ_Ni6ql3DdcR-dCQzI14Z2NzCTADit2RxVt1v8lJejbGmRvzKmCTOT0VtSnAxfrLUKXVWPCpflhn2NqhBUo9-A1zBp5owbY1w.png\" alt=\"Total Revenue and Operating Income\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\">Total Revenue and Operating Income <span>(Seeking Alpha)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Gross profit margin by quarter has trended slightly lower; Selling, G&amp;A expenses as a percentage of total revenue by quarter have also moved lower recently.<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/saupload_NfvZYTY4JnpHTEGI43GJP-NW5rgsRn9m86Y1xLqSfYv8pH5hpFX06Dnv8ZDPK5L_mc87nnzICTdPYCNFiW81QSZq2FztE-8JxEWxwDcYpzeK9-k82Ue4Y8qmNoNbsPB2hngXvevo9-DMGkyKvccc85U.png\" alt=\"Gross Profit Margin and Selling, G&amp;A % Of Revenue\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\">Gross Profit Margin and Selling, G&amp;A % Of Revenue <span>(Seeking Alpha)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Earnings per share (Diluted) have deteriorated further in the past few years.<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/saupload_xGeYPZv_zM6l1x0MxCQEwVo8q2FITG1Op-EvxgDqkgxSVgs6AhKN_ldT-G0X9g9_1NrtC0ThB8HC0zM7BhU12sDVyXI545NjX4a6p3IbW3uF9JYjZZA-_xYeq_LLBSNX9lncBq_jEtDOV7gKaD53eeI.png\" alt=\"Earnings Per Share\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\">Earnings Per Share <span>(Seeking Alpha)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">(All data in the above charts is GAAP.)<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">In the past 12 months, RAMP\u2019s stock price has risen only 2.86% vs. that of Zeta Global Holdings Corp.\u2019s (ZETA) rise of 38.96%, as the chart indicates below.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/saupload_dpvTr7QjIF_G9pMkZZGqKrsmPEFc9JACCy72MW-Zxxq12pb4pTVEZlSzzHfl6joOlE_6AZ-ldRrSnNH-8G2BXRiwQ22CW5JQ9HyXrff90wvqjQTOFkDb--i9ZdoL_--jJRIVtYL-IBNfxSRT0ZMeRGY_thumb1.png\" alt=\"52-Week Stock Price Comparison\" loading=\"lazy\"><\/span> <\/picture><figcaption>\n<p class=\"item-caption\">52-Week Stock Price Comparison <span>(Seeking Alpha)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">For the balance sheet, the firm ended the quarter with $497.3 million in cash, equivalents and short-term investments and no debt.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Over the trailing twelve months, free cash flow was $35.1 million, during which capital expenditures were $4.7 million. The company paid a hefty $125.8 million in stock-based compensation in the last four quarters, the highest trailing twelve-month figure in the past eleven quarters.<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Valuation And Other Metrics For LiveRamp<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Below is a table of relevant capitalization and valuation figures for the company.<\/p>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<colgroup>\n<col>\n<col> <\/colgroup>\n<tr>\n<td>\n<p><strong>Measure [TTM]<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>Amount<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value \/ Sales<\/p>\n<\/td>\n<td>\n<p>2.4<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value \/ EBITDA<\/p>\n<\/td>\n<td>\n<p>NM<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Price \/ Sales<\/p>\n<\/td>\n<td>\n<p>3.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Revenue Growth Rate<\/p>\n<\/td>\n<td>\n<p>12.9%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Net Income Margin<\/p>\n<\/td>\n<td>\n<p>-19.9%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>EBITDA %<\/p>\n<\/td>\n<td>\n<p>-10.2%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Net Debt To Annual EBITDA<\/p>\n<\/td>\n<td>\n<p>8.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Market Capitalization<\/p>\n<\/td>\n<td>\n<p>$1,910,000,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value<\/p>\n<\/td>\n<td>\n<p>$1,460,000,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Operating Cash Flow<\/p>\n<\/td>\n<td>\n<p>$34,440,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Earnings Per Share (Fully Diluted)<\/p>\n<\/td>\n<td>\n<p>-$1.79<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">(Source &#8211; Seeking Alpha.)<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">As a reference, a relevant partial public comparable would be Zeta Global; shown below is a comparison of their primary valuation metrics.<\/p>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<colgroup>\n<col>\n<col>\n<col>\n<col> <\/colgroup>\n<tr>\n<td>\n<p><strong>Metric [TTM]<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>Zeta Global<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>LiveRamp<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>Variance<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value \/ Sales<\/p>\n<\/td>\n<td>\n<p>3.3<\/p>\n<\/td>\n<td>\n<p>2.4<\/p>\n<\/td>\n<td>\n<p>-25.4%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value \/ EBITDA<\/p>\n<\/td>\n<td>\n<p>NM<\/p>\n<\/td>\n<td>\n<p>NM<\/p>\n<\/td>\n<td>\n<p>&#8211;%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Revenue Growth Rate<\/p>\n<\/td>\n<td>\n<p>28.8%<\/p>\n<\/td>\n<td>\n<p>12.9%<\/p>\n<\/td>\n<td>\n<p>-55.4%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Net Income Margin<\/p>\n<\/td>\n<td>\n<p>-42.5%<\/p>\n<\/td>\n<td>\n<p>-19.9%<\/p>\n<\/td>\n<td>\n<p>&#8211;%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Operating Cash Flow<\/p>\n<\/td>\n<td>\n<p>$77,410,000<\/p>\n<\/td>\n<td>\n<p>$34,440,000<\/p>\n<\/td>\n<td>\n<p>-55.5%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">(Source &#8211; Seeking Alpha.)<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth\/EBITDA trajectory.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">RAMP\u2019s most recent unadjusted Rule of 40 calculation was only 2.7% as of FQ4 2023\u2019s results, so the firm is in need of substantial improvement in this regard, per the table below.<\/p>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<colgroup>\n<col>\n<col>\n<col> <\/colgroup>\n<tr>\n<td>\n<p><strong>Rule of 40 Performance (Unadjusted)<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>FQ1 2023<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>FQ4 2023<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Revenue Growth %<\/p>\n<\/td>\n<td>\n<p>19.0%<\/p>\n<\/td>\n<td>\n<p>12.9%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>EBITDA %<\/p>\n<\/td>\n<td>\n<p>-9.0%<\/p>\n<\/td>\n<td>\n<p>-10.2%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Total<\/p>\n<\/td>\n<td>\n<p>10.0%<\/p>\n<\/td>\n<td>\n<p>2.7%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">(Source &#8211; Seeking Alpha.)<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Commentary On LiveRamp<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">In its last earnings call (Source &#8211; Seeking Alpha), covering FQ4 2023\u2019s results, management highlighted &#8220;more promising leading indicators we are seeing now,&#8221; which they believe will translate into better growth in the near future.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The firm finished the quarter with 920 customers, an increase of 10 from the previous quarter.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Leadership says it believes it can get to double-digit growth in revenue.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The company\u2019s platform net retention rate was 99%, and management seeks to improve on that rather moderate performance by things such as implementing a new dashboard highlighting potential customers at risk of loss.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Total revenue for FQ4 2023 rose 4.9% year-over-year, while gross profit margin dropped 1.3%.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Selling, G&amp;A expenses as a percentage of revenue fell 4.9% YoY, a positive signal indicating improving efficiency, but operating losses widened 1.4% to $28.4 million.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The company&#8217;s financial position is strong, with plenty of liquidity, no debt and positive free cash flow generation.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">RAMP\u2019s Rule of 40 performance has been disappointing and worsening in the most recent quarter.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Looking ahead, management guided full year fiscal 2024 revenue to $315 million, or 3.1% year-over-year growth.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">If achieved, this would represent a sharp drop in revenue growth versus fiscal 2023\u2019s growth rate of 12.85% over fiscal 2022, indicating a slowing growth trajectory.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">From management\u2019s most recent earnings call, I prepared a chart showing the frequency of key terms mentioned (or not) in the call, as shown below.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/saupload_MgUGfC-fsIEHZSSy8DuGIQGVC_7E4V-kdB2mC8NbxyOz9PHuPLncM_QsEai66MaRDfEb7_oQ7FO7NDlP3-PatWmCizRvnBerzHrQIHp95kdS48jmBl9BwGm1a8hld5163JwzcFRflzrGVXLRx4mDM3w.png\" alt=\"Earnings Transcript Key Terms Frequency\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\">Earnings Transcript Key Terms Frequency <span>(Seeking Alpha)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">I\u2019m most interested in the frequency of potentially negative terms, so management or analyst questions cited &#8220;Recession&#8221; once, &#8220;Uncertain&#8221; three times, &#8220;Challeng[es][ing]&#8221; seven times, and &#8220;Macro&#8221; 16 times.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The frequency of these negative terms suggests a business that is struggling with a variety of headwinds.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Analysts questioned company leadership about sales cycle lengths and management responded that it is seeing longer sales cycles but also more aggressive procurement practices at its customers who want lower pricing.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Regarding valuation, the market is valuing RAMP at an EV\/Sales multiple of around 2.4x on TTM revenue growth rate of 12.9% against Zeta Global\u2019s 3.3x EV\/Sales multiple on 28.8% revenue growth rate.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Risks to the company\u2019s outlook include an economic slowdown that may be underway, reduced credit availability which may affect customer\/prospect spending plans and lengthening sales cycles which may reduce its revenue growth potential in the near term.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Given the firm\u2019s slowing growth rate, continued operating losses and tougher operating environment, I remain Neutral [Hold] on LiveRamp Holdings, Inc. for the near term.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/seekingalpha.com\/article\/4623428-liveramp-to-see-gradual-revenue-growth-ahead?source=feed_all_articles\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Quick Take On LiveRamp LiveRamp Holdings, Inc. (NYSE:RAMP) provides identity resolution software and related capabilities for online marketing activities. I previously wrote about the company with a Hold outlook. Given management\u2019s slowing revenue growth outlook for fiscal 2024, continued operating losses and difficult customer environment, I remain Neutral [Hold] on LiveRamp Holdings, Inc. stock [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":44102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-44101","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LiveRamp To See Gradual Revenue Growth Ahead (NYSE:RAMP) | iFintechWorld<\/title>\n<meta name=\"description\" content=\"A Quick Take On LiveRamp LiveRamp Holdings, Inc. 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