Over the past few weeks, the stock market has been highly volatile, with the COVID-19 omicron variant making investors nervous. However, the situation has extended the work-from-home culture for several companies, boosting the technology industry’s growth prospects. Investors’ interest in the technology sector is…
evidenced by the Technology Select Sector SPDR Fund’s (XLK) 10.4% returns over the past three months versus the SPDR S&P 500 Trust ETF’s (SPY) 6.2% returns. And according to a CNBC Technology Executive Council survey report, artificial intelligence, cloud computing, and machine learning technologies are expected to be crucial in 2022. Increasing demand for technology products and services with the continuing digitization of industries should drive the sector’s growth.
Tech stocks LiveRamp Holdings, Inc. (RAMP – Get Rating), N-able Inc. (NABL – Get Rating), and Materialise NV (MTLS – Get Rating) have plunged in price over the past few months but we think they possess solid rebound prospects. Also, they have a ‘Buy’ rating in our proprietary POWR Ratings system.
LiveRamp Holdings, Inc. (RAMP – Get Rating)
RAMP in Little Rock, Ark., is a technology company that provides enterprise data connectivity platform solutions across the United States, Europe, and the Asia-Pacific. It enables organizations to connect, control, and activate data to transform customer experiences and generate more valuable business outcomes.
On October 12, 2021, RAMP announced that streaming inventory forecasting and data collaboration capabilities were added to its TV platform. This makes it the first and only end-to-end solution that enables media sellers and advertisers to collaborate, activate, and quantify media campaigns in a coordinated way across all TV inventory. So, this new capacity could help boost its revenue.
RAMP’s revenues increased 21.6% year-over-year to $127.29 million for its fiscal second quarter, ended September 30, 2021. Its non-GAAP net earnings came in at $17.83 million, up 640.8% year-over-year. Also, its non-GAAP EPS increased 766.7% year-over-year to $0.26.
Analysts expect RAMP’s revenue to be $633.83 million in its fiscal 2023, representing a 20.7% year-over-year rise. The company’s EPS is expected to increase 134.8% year-over-year to $0.54 in the current year. It surpassed the Street’s EPS estimates in each of the trailing four quarters. The stock has declined 33.3% in price year-to-date to close the last trading session at $48.82.
RAMP’s strong fundamentals are reflected in its POWR Ratings. The stock has an overall B rating, which indicates a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 distinct factors, each with its own weighting.
RAMP has an A grade for Growth and a B grade for Sentiment. It is ranked #20 of 76 stocks in the Technology – Services industry. Click here to see the additional POWR Ratings for Value, Momentum, Stability, and Quality for RAMP.
N-able Inc. (NABL – Get Rating)
NABL provides cloud-based software solutions for managed service providers (MSPs). The Wakefield, Mass.-based company’s solutions enable MSPs to support digital transformation and growth within…
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