Liftoff Mobile (NASDAQ:LFTO) Trading Down 5.8% – Should You Sell?

Liftoff Mobile, Inc. (NASDAQ:LFTO) was down 5.8% during trading on Friday . The company traded as low as $16.40 and last traded at $16.41. Approximately 754,310 shares traded hands during trading, a decline of 10% from the average daily volume of 835,931 shares. The stock had previously closed at $17.42.

Analysts Set New Price Targets

Several research firms have commented on LFTO. Weiss Ratings raised shares of Liftoff Mobile from a “sell (e)” rating to a “sell (d)” rating in a report on Monday. Jefferies Financial Group began coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set a “buy” rating and a $34.00 price target on the stock. Freedom Broker raised shares of Liftoff Mobile to a “hold” rating in a report on Thursday, September 10th. Morgan Stanley began coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued an “equal weight” rating and a $30.00 price objective for the company. Finally, William Blair initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.85.

Liftoff Mobile Stock Performance

The stock’s fifty day simple moving average is $21.03.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust bought a new stake in Liftoff Mobile during the second quarter valued at approximately $30,000. WT Asset Management Ltd bought a new position in shares of Liftoff Mobile in the 2nd quarter worth $480,000. Legal & General Group Plc purchased a new stake in shares of Liftoff Mobile during the 2nd quarter valued at $486,000. Bank of America Corp DE purchased a new stake in shares of Liftoff Mobile during the 2nd quarter valued at $1,282,000. Finally, Readystate Asset Management LP purchased a new position in Liftoff Mobile in the second quarter worth $1,677,000.

About Liftoff Mobile

Liftoff Mobile, Inc is a mobile technology company that provides software and services designed to help app developers and advertisers acquire, engage and monetize users. Its platform uses data-driven advertising and machine-learning tools to support user acquisition, retargeting, campaign optimization and creative testing across mobile applications.

The company also serves mobile publishers by offering advertising monetization solutions, including tools for managing and optimizing in-app ad inventory.