Liftoff Mobile, Inc. (NASDAQ:LFTO – Get Free Report) has received an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $29.25.
Several equities analysts have recently weighed in on LFTO shares. Wells Fargo & Company lowered their price objective on shares of Liftoff Mobile from $34.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wall Street Zen raised shares of Liftoff Mobile from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Wedbush initiated coverage on shares of Liftoff Mobile in a research report on Tuesday, October 27th. They set an “outperform” rating and a $25.00 target price for the company. Morgan Stanley reduced their target price on shares of Liftoff Mobile from $30.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, October 13th. Finally, Tigress Financial increased their price target on shares of Liftoff Mobile from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st.
Institutional Investors Weigh In On Liftoff Mobile
A number of hedge funds have recently modified their holdings of LFTO. Alyeska Investment Group L.P. purchased a new stake in shares of Liftoff Mobile in the 2nd quarter worth $14,412,000. HBK Investments L P bought a new position in Liftoff Mobile in the 2nd quarter worth $6,155,000. Wellington Management Group LLP bought a new position in Liftoff Mobile in the 2nd quarter worth $4,433,000. Readystate Asset Management LP purchased a new position in Liftoff Mobile during the second quarter valued at $1,677,000. Finally, Bank of America Corp DE purchased a new position in Liftoff Mobile during the second quarter valued at $1,282,000.
Liftoff Mobile Stock Performance
LFTO stock opened at $14.79 on Friday. Liftoff Mobile has a fifty-two week low of $14.03 and a fifty-two week high of $30.10. The firm has a 50-day moving average price of $17.01. The company has a market capitalization of $2.50 billion and a P/E ratio of -493.00.
Liftoff Mobile (NASDAQ:LFTO – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.49. The firm had revenue of $219.51 million during the quarter. On average, sell-side analysts anticipate that Liftoff Mobile will post 0.78 EPS for the current year.
About Liftoff Mobile
Liftoff Mobile, Inc is a global mobile app growth and monetization company that helps advertisers acquire, engage and retain users. Its technology uses machine learning, first-party data and automated optimization to support performance marketing campaigns across mobile applications and digital channels.
The company provides solutions for app advertisers, including user acquisition, retargeting, creative production and campaign measurement. Liftoff also serves publishers and app developers through advertising monetization products, helping them sell in-app inventory and generate revenue from their audiences.
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