LiveRamp price target lowered to $48 from $56 at Benchmark

Benchmark analyst Mark Zgutowicz lowered the firm’s price target on LiveRamp to $48 from $56 and keeps a Buy rating on the shares. LiveRamp is projected to report fiscal Q2 earnings the week of November 4, notes the analyst, who expects the company to post in-line to better fiscal Q2 total revenue led by Marketplace strength, but believes limited fiscal Q2 momentum is largely priced in the shares. The firm, however, believes ARR and RPO optics will look better in fiscal Q3, which it calls “the company’s strongest renewal quarter,” and continues to like LiveRamp’s leading ID and data clean room positioning in an increasingly first-party data-dependent industry, the analyst added.