The Rubicon Project, Inc. (RUBI) Rating Reiterated by Needham & Company LLC

The Rubicon Project, Inc. (NYSE:RUBI)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Thursday.

A number of other brokerages also recently commented on RUBI. B. Riley reaffirmed a “neutral” rating and issued a $5.00 price target on shares of The Rubicon Project in a report on Wednesday, August 2nd. BidaskClub downgraded shares of The Rubicon Project from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research downgraded shares of The Rubicon Project from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $6.00 price target on shares of The Rubicon Project in a report on Monday, June 5th. Finally, ValuEngine downgraded shares of The Rubicon Project from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.79.

Shares of The Rubicon Project (RUBI) opened at 3.73 on Thursday. The company’s 50 day moving average price is $4.42 and its 200 day moving average price is $5.77. The company’s market capitalization is $182.95 million. The Rubicon Project has a 12 month low of $3.38 and a 12 month high of $9.31.

The Rubicon Project (NYSE:RUBI) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.06. The firm had revenue of $42.90 million for the quarter, compared to analysts’ expectations of $47.98 million. The Rubicon Project had a negative net margin of 20.28% and a negative return on equity of 1.15%. The company’s revenue for the quarter was down 34.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. Analysts expect that The Rubicon Project will post ($0.49) EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in RUBI. Voya Investment Management LLC increased its stake in shares of The Rubicon Project by 29.6% in the second quarter. Voya Investment Management LLC now owns 20,823 shares of the software maker’s stock valued at $107,000 after buying an additional 4,760 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of The Rubicon Project by 9.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 15,000 shares of the software maker’s stock worth $111,000 after buying an additional 1,300 shares during the period. Teton Advisors Inc. raised its position in shares of The Rubicon Project by 94.2% in the second quarter. Teton Advisors Inc. now owns 23,500 shares of the software maker’s stock worth $121,000 after buying an additional 11,400 shares during the period. American International Group Inc. raised its position in shares of The Rubicon Project by 7.0% in the first quarter. American International Group Inc. now owns 22,916 shares of the software maker’s stock worth $135,000 after buying an additional 1,509 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of The Rubicon Project during the second quarter worth approximately $143,000. 61.74% of the stock is owned by institutional investors and hedge funds.

About The Rubicon Project

The Rubicon Project, Inc offers a technology solution to automate the purchase and sale of advertising for buyers and sellers. The Company’s solution enables buyers and sellers to purchase and sell a range of advertising units, including display and video; utilizing various inventory types, including direct sale of inventory and real-time bidding (RTB), and across digital channels, including mobile Web, mobile application and desktop, as well as across various out of home channels, such as digital billboards.