LiveRamp resumed with an Outperform at Evercore ISI

Evercore ISI resumed coverage of LiveRamp with an Outperform rating and $50 price target. The firm continues to believe that following a material, “largely macro-induced,” slowdown in growth in 2023, the company is well positioned to reaccelerate growth in 2024 and beyond as the digital ad environment continues to improve, the analyst tells investors. The acquisition of Habu rounds out the “clean room” capabilities of the company, adding increased integrations with the public cloud providers as well as expanding measurability in “walled gardens,” which account for about three-quarters of non-search digital advertising, the analyst added.