Liftoff Mobile, Inc. (NASDAQ:LFTO) Stock Has Average Target Price of $29.25

Shares of Liftoff Mobile, Inc. (NASDAQ:LFTO) have received an average rating of “Moderate Buy” from the twenty-one research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $29.25.

LFTO has been the subject of a number of research analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $33.00 target price on shares of Liftoff Mobile in a report on Thursday, August 13th. Tigress Financial upped their price target on Liftoff Mobile from $39.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $26.00 price objective on shares of Liftoff Mobile in a research report on Wednesday, October 14th. Cantor Fitzgerald reduced their price objective on Liftoff Mobile from $32.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Finally, UBS Group decreased their target price on Liftoff Mobile from $39.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday.

Liftoff Mobile Trading Down 7.5%

NASDAQ:LFTO opened at $14.79 on Friday. The stock has a market capitalization of $2.50 billion and a PE ratio of -493.00. The firm’s 50 day moving average price is $17.01. Liftoff Mobile has a 52 week low of $14.03 and a 52 week high of $30.10.

Liftoff Mobile (NASDAQ:LFTO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.49. The firm had revenue of $219.51 million during the quarter. On average, sell-side analysts forecast that Liftoff Mobile will post 0.78 EPS for the current year.

Institutional Trading of Liftoff Mobile

Large investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new stake in Liftoff Mobile in the second quarter worth approximately $14,412,000. HBK Investments L P bought a new stake in Liftoff Mobile in the 2nd quarter worth approximately $6,155,000. Wellington Management Group LLP bought a new stake in Liftoff Mobile in the 2nd quarter worth approximately $4,433,000. Readystate Asset Management LP purchased a new stake in Liftoff Mobile during the 2nd quarter valued at $1,677,000. Finally, Bank of America Corp DE purchased a new stake in Liftoff Mobile during the 2nd quarter valued at $1,282,000.

About Liftoff Mobile

Liftoff Mobile, Inc is a global mobile app growth and monetization company that helps advertisers acquire, engage and retain users. Its technology uses machine learning, first-party data and automated optimization to support performance marketing campaigns across mobile applications and digital channels.

The company provides solutions for app advertisers, including user acquisition, retargeting, creative production and campaign measurement. Liftoff also serves publishers and app developers through advertising monetization products, helping them sell in-app inventory and generate revenue from their audiences.