Liftoff Mobile (NASDAQ:LFTO) Sets New 1-Year Low – Time to Sell?

Liftoff Mobile, Inc. (NASDAQ:LFTO)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.90 and last traded at $18.12, with a volume of 77700 shares changing hands. The stock had previously closed at $18.58.

Analyst Ratings Changes

Several research analysts recently commented on LFTO shares. Jefferies Financial Group assumed coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They issued a “buy” rating and a $34.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set a “buy” rating and a $37.00 target price on the stock. Needham & Company LLC assumed coverage on Liftoff Mobile in a research report on Monday, June 29th. They set a “buy” rating and a $42.00 target price on the stock. The Goldman Sachs Group assumed coverage on Liftoff Mobile in a report on Monday, June 29th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Royal Bank Of Canada began coverage on Liftoff Mobile in a research note on Monday, June 29th. They set an “outperform” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.85.

Liftoff Mobile Trading Down 0.2%

The company’s 50-day simple moving average is $22.42.

Liftoff Mobile (NASDAQ:LFTO) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.49. The firm had revenue of $219.51 million during the quarter. As a group, analysts forecast that Liftoff Mobile, Inc. will post 0.7 EPS for the current year.

Insider Buying and Selling

In other Liftoff Mobile news, Director Atlantic Genpar L.P. General acquired 1,304,347 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $23.00 per share, with a total value of $29,999,981.00. Following the completion of the acquisition, the director owned 25,315,646 shares of the company’s stock, valued at $582,259,858. This trade represents a 5.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Liftoff Mobile

Several hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. bought a new position in Liftoff Mobile in the second quarter valued at $14,412,000. Wellington Management Group LLP purchased a new stake in shares of Liftoff Mobile during the second quarter valued at approximately $4,433,000. Readystate Asset Management LP bought a new position in shares of Liftoff Mobile in the second quarter worth approximately $1,677,000. Bank of America Corp DE bought a new position in shares of Liftoff Mobile in the second quarter worth approximately $1,282,000. Finally, Legal & General Group Plc purchased a new position in shares of Liftoff Mobile in the second quarter worth $486,000.

About Liftoff Mobile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.