Liftoff Mobile (NASDAQ:LFTO) Hits New 12-Month Low – Should You Sell?

Liftoff Mobile, Inc. (NASDAQ:LFTO) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $16.14 and last traded at $16.35, with a volume of 1711061 shares traded. The stock had previously closed at $17.65.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LFTO. BTIG Research reaffirmed a “buy” rating and issued a $35.00 target price on shares of Liftoff Mobile in a report on Thursday, August 13th. Weiss Ratings raised Liftoff Mobile from a “sell (e)” rating to a “sell (d)” rating in a research report on Monday, September 14th. Piper Sandler started coverage on Liftoff Mobile in a research report on Tuesday. They issued a “neutral” rating and a $19.00 price objective for the company. Jefferies Financial Group started coverage on Liftoff Mobile in a research report on Monday, June 29th. They issued a “buy” rating and a $34.00 price objective for the company. Finally, Cannonball Research raised Liftoff Mobile to a “hold” rating in a report on Saturday, September 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Liftoff Mobile presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Liftoff Mobile Stock Performance

The stock has a 50-day moving average of $20.74.

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 for the quarter. As a group, equities research analysts forecast that Liftoff Mobile, Inc. will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Liftoff Mobile

A number of hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust acquired a new position in shares of Liftoff Mobile during the 2nd quarter worth approximately $30,000. WT Asset Management Ltd acquired a new stake in shares of Liftoff Mobile in the second quarter valued at approximately $480,000. Legal & General Group Plc bought a new stake in shares of Liftoff Mobile in the second quarter valued at approximately $486,000. Bank of America Corp DE bought a new stake in shares of Liftoff Mobile in the second quarter valued at approximately $1,282,000. Finally, Readystate Asset Management LP acquired a new stake in Liftoff Mobile during the second quarter worth approximately $1,677,000.

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.