Liftoff Mobile (NASDAQ:LFTO) Raised to Hold at Zacks Research

Liftoff Mobile (NASDAQ:LFTO) was upgraded by Zacks Research to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

LFTO has been the topic of several other reports. Raymond James Financial began coverage on shares of Liftoff Mobile in a research note on Monday. They set an “outperform” rating and a $32.00 target price on the stock. Barclays started coverage on shares of Liftoff Mobile in a research report on Monday. They issued an “overweight” rating and a $34.00 price target for the company. Wolfe Research assumed coverage on Liftoff Mobile in a research report on Monday. They set a “peer perform” rating on the stock. William Blair began coverage on Liftoff Mobile in a research note on Monday. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada assumed coverage on Liftoff Mobile in a report on Monday. They issued an “outperform” rating and a $35.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.17.

Liftoff Mobile Stock Up 4.0%

Shares of NASDAQ:LFTO opened at $24.98 on Tuesday. Liftoff Mobile has a 1 year low of $23.08 and a 1 year high of $30.10.

Insiders Place Their Bets

In other news, Director Atlantic Genpar L.P. General purchased 1,304,347 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $23.00 per share, for a total transaction of $29,999,981.00. Following the completion of the purchase, the director directly owned 25,315,646 shares of the company’s stock, valued at $582,259,858. The trade was a 5.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Key Headlines Impacting Liftoff Mobile

Here are the key news stories impacting Liftoff Mobile this week:

• Positive Sentiment: Barclays began coverage with an overweight rating and a $34 price target, implying meaningful upside for LFTO. Barclays initiates coverage on Liftoff Mobile
• Positive Sentiment: Jefferies started coverage with a strong-buy rating and a $34 target, adding to the bullish tone around the stock. Jefferies initiates coverage on Liftoff Mobile
• Positive Sentiment: UBS initiated coverage with a strong-buy rating and a $38 target, one of the highest on the Street and a sign of strong confidence in upside. UBS initiates coverage on Liftoff Mobile
• Positive Sentiment: Additional positive initiations came from Cantor Fitzgerald, Wells Fargo, BTIG, Goldman Sachs, RBC, and Raymond James, with targets ranging from $32 to $40, reinforcing expectations for further gains. Multiple analyst initiations on Liftoff Mobile
• Positive Sentiment: A Seeking Alpha analysis argued LFTO has an edge in mobile advertising thanks to its dual demand-and-supply platform, Cortex engine, 130% LTM net dollar retention, and expansion beyond gaming into other app categories, suggesting a long growth runway. Seeking Alpha article on Liftoff Mobile