The Rubicon Project (NYSE:RUBI) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of The Rubicon Project (NYSE:RUBI) from a sell rating to a hold rating in a research note released on Friday, September 14th.

According to Zacks, “The Rubicon Project, Inc. is a global technology company that focuses to automate the buying and selling of advertising. The Company’s Advertising Automation Cloud is a scalable software platform that powers and optimizes a marketplace for the real time trading of digital advertising between buyers and sellers. Its advertising automation cloud incorporates machine-learning algorithms, data processing, high volume storage, detailed analytics capabilities, and a distributed infrastructure. The Rubicon Project, Inc. is headquartered in Los Angeles, California. “

RUBI has been the topic of a number of other research reports. SunTrust Banks restated a buy rating and set a $4.00 price target on shares of The Rubicon Project in a report on Thursday, August 2nd. ValuEngine upgraded The Rubicon Project from a sell rating to a hold rating in a report on Saturday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $3.33.

RUBI stock traded down $0.11 during mid-day trading on Friday, hitting $3.36. 162,200 shares of the stock were exchanged, compared to its average volume of 549,181. The firm has a market cap of $182.70 million, a P/E ratio of -3.03 and a beta of 1.35. The Rubicon Project has a 12 month low of $1.48 and a 12 month high of $4.20.

The Rubicon Project (NYSE:RUBI) last released its quarterly earnings data on Wednesday, August 1st. The software maker reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.06. The firm had revenue of $28.65 million for the quarter, compared to the consensus estimate of $27.86 million. The Rubicon Project had a negative return on equity of 42.04% and a negative net margin of 144.16%. On average, equities analysts expect that The Rubicon Project will post -1.21 earnings per share for the current fiscal year.

In other news, insider Michael G. Barrett bought 100,000 shares of The Rubicon Project stock in a transaction on Tuesday, August 7th. The shares were purchased at an average price of $3.42 per share, for a total transaction of $342,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of RUBI. California Public Employees Retirement System purchased a new stake in The Rubicon Project during the 1st quarter valued at $174,000. JPMorgan Chase & Co. raised its stake in The Rubicon Project by 237.8% during the 1st quarter. JPMorgan Chase & Co. now owns 98,141 shares of the software maker’s stock valued at $177,000 after buying an additional 69,088 shares during the last quarter. Cannell Capital LLC purchased a new stake in The Rubicon Project during the 2nd quarter valued at $179,000. Cubist Systematic Strategies LLC raised its stake in The Rubicon Project by 170.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 64,046 shares of the software maker’s stock valued at $183,000 after buying an additional 40,374 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in The Rubicon Project during the 2nd quarter valued at $196,000. 57.21% of the stock is currently owned by hedge funds and other institutional investors.

About The Rubicon Project

The Rubicon Project, Inc provides technology solutions to automate the purchase and sale of digital advertising inventory for buyers and sellers in the United States and internationally. It offers applications and services for digital advertising inventory sellers, including Websites, mobile applications, and other digital media properties, to sell their advertising inventory; applications and services for buyers, such as advertisers, agencies, agency trading desks, and demand side platforms, to buy advertising inventory; and a marketplace over which such transactions are executed.

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