Liftoff Mobile (NASDAQ:LFTO) Stock Gets Price Target Cut from BTIG Research

Liftoff Mobile (NASDAQ:LFTO) had its target price reduced by BTIG Research from $35.00 to $27.00 in a research report released on Friday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

LFTO has been the subject of a number of other reports. Jefferies Financial Group started coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued a “buy” rating and a $34.00 price objective for the company. Freedom Broker upgraded shares of Liftoff Mobile to a “hold” rating in a report on Thursday, September 10th. Cannonball Research upgraded shares of Liftoff Mobile to a “hold” rating in a research report on Saturday, September 5th. Weiss Ratings raised shares of Liftoff Mobile from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, September 28th. Finally, Needham & Company LLC assumed coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They issued a “buy” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Liftoff Mobile Stock Performance

Shares of NASDAQ:LFTO opened at $15.41 on Friday. The stock’s fifty day moving average is $18.81. Liftoff Mobile has a fifty-two week low of $15.02 and a fifty-two week high of $30.10. The company has a market capitalization of $2.61 billion and a price-to-earnings ratio of -513.67.

Liftoff Mobile (NASDAQ:LFTO) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.49. The firm had revenue of $219.51 million for the quarter. Equities research analysts anticipate that Liftoff Mobile will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Liftoff Mobile

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

About Liftoff Mobile

Liftoff Mobile, Inc is a mobile technology company that provides marketing, advertising and monetization solutions for app developers, advertisers and publishers. Its platform helps businesses acquire and retain mobile users through programmatic advertising, audience targeting, retargeting and campaign optimization.

The company offers tools designed to support the mobile app lifecycle, including user-acquisition campaigns, creative development and testing, influencer marketing, and in-app advertising monetization.