Liftoff Mobile, Inc. (NASDAQ:LFTO – Get Free Report)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $17.15 and last traded at $17.20, with a volume of 516929 shares trading hands. The stock had previously closed at $18.27.
Wall Street Analyst Weigh In
Several research firms recently commented on LFTO. The Goldman Sachs Group started coverage on Liftoff Mobile in a research report on Monday, June 29th. They set a “buy” rating and a $40.00 price target on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Liftoff Mobile in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set a “buy” rating and a $37.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Liftoff Mobile from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Finally, BTIG Research restated a “buy” rating and issued a $35.00 target price on shares of Liftoff Mobile in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.85.
Read Our Latest Research Report on LFTO
Liftoff Mobile Stock Down 4.7%
Liftoff Mobile (NASDAQ:LFTO – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.49. The business had revenue of $219.51 million during the quarter. Analysts predict that Liftoff Mobile, Inc. will post 0.7 EPS for the current fiscal year.
Hedge Funds Weigh In On Liftoff Mobile
A number of institutional investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. acquired a new stake in shares of Liftoff Mobile during the second quarter worth approximately $14,412,000. Wellington Management Group LLP acquired a new stake in Liftoff Mobile in the second quarter valued at $4,433,000. Readystate Asset Management LP bought a new position in Liftoff Mobile during the 2nd quarter valued at $1,677,000. Bank of America Corp DE bought a new position in Liftoff Mobile during the 2nd quarter valued at $1,282,000. Finally, Legal & General Group Plc bought a new position in Liftoff Mobile during the 2nd quarter valued at $486,000.
Liftoff Mobile Company Profile
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.
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