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Nike announced the acquisition of New York-based data integration platform Datalogue to accelerate its digital integration and boost sales growth. The athletic apparel giant did not disclose the terms of the transaction.

Nike (NKE) said that the acquisition of Datalogue start-up is a part of the company’s CDA [Consumer Direct Acceleration] strategy, which focuses on better serving its consumers. Nike CEO John Donahoe commented, “The acquisition of Datalogue builds on our digital momentum by enhancing our ability to transform raw data into actionable insights in real time and across the enterprise.”

Back in December, Nike reported better-than-expected 2Q results, driven by strong digital sales growth. The company’s 2Q revenue of $11.2 billion came in ahead of analysts’ expectations of $10.6 billion and grew 9% year-over-year. Adjusted earnings of $0.78 per share increased 11.4% year-over-year and exceeded the Street’s estimates of $0.63 per share. (See Nike stock analysis on TipRanks)

On Jan. 22, Williams Trading analyst Sam Poser initiated coverage on the stock with a Buy rating and a price target of $175 (22% upside potential). In a note to investors, Poser said that Nike will emerge as a strong player post-pandemic, as the company has continued to innovate and turned its focus on improving consumer engagement digitally.

Overall, the Street has a Strong Buy consensus rating based on 26 Buys, 2 Holds and 1 Sell. The average analyst price target of $163.71 implies upside potential of about 14.2% to current levels. Shares have by about 45.6% in one year.

Furthermore, NKE scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

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LiveRamp Holdings reported better-than-expected 3Q results. Moreover, the data connectivity platform provider's 4Q and fiscal 2021 revenue outlook came in ahead of the Street consensus. However, shares dropped 3.2% in Monday’s extended trading session.

LiveRamp (RAMP) reported 3Q earnings of $0.14 per share after a loss of $0.03 per share in the year-earlier period. Quarterly EPS exceeded the Street estimates of $0.07 per share as gross and operating margins improved.

Revenue grew 17% to $120 million during the reported quarter and surpassed analysts’ expectations of about $113.1 million. The company’s subscription sales, which contributed 78% to total revenue, increased 15% year-over-year. Further, marketplace & other revenue rose 27% to $26 million.

As for the fourth quarter, LiveRamp forecasted sales of $116 million, which is above analysts’ expectations of $113.2 million and reflects year-over-year growth of 10%.

For fiscal 2021, the company projects revenue of $440 million, up 16% year-over-year. Analysts were expecting fiscal 2021 revenue to come in at $430.4 million. (See LiveRamp stock analysis on TipRanks)

Separately, LiveRamp announced the acquisition of cloud data platform, DataFleets. The company said, “This acquisition expands LiveRamp’s data protection capabilities to unlock greater data access and control for its customers. In addition, the deal opens up new use cases as well as new markets for distributed data collaboration through LiveRamp Safe Haven.”

On Jan. 28, Wells Fargo analyst Brian Fitzgerald raised the stock’s price target to $95 (19.4% upside potential) from $87 and maintained a Buy rating.

In a note to investors, Fitzgerald said that he expects internet stocks like LiveRamp to deliver strong performance in 2021 as well, on the back of improving economic fundamentals, led by broadening vaccine distribution, gradual ease of quarantine restrictions, and a likely third dose of stimulus in the US.

Overall, the Street has a firmly bullish outlook on the stock, with a Strong Buy consensus rating based on 6 unanimous Buys. The average analyst price target of $85.67 implies upside potential of about 7.7% to current levels. Shares have gained about 94.7% over the past year.

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