LiveRamp revenue upside could be ‘substantial,’ says Macquarie

Macquarie analyst Tim Nollen reiterated an Outperform rating and $50 price target on LiveRamp (RAMP) after the company reported “strong” Q3 results and raised its FY24 revenue guidance. LiveRamp is now the combined number one and number two partner on Google’s (GOOGL) People + AI Research system after acquiring Habu, with InfoSum a “much smaller” number three, the analyst tells investors in a research note. The firm added that the revenue upside to LiveRamp from Google’s ID replacement for cookies could be “substantial,” as use of PAIR would require a LiveRamp subscription.