Liftoff Mobile, Inc. (NASDAQ:LFTO) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Liftoff Mobile, Inc. (NASDAQ:LFTO) have been assigned an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $33.60.

LFTO has been the subject of a number of research reports. Freedom Broker raised shares of Liftoff Mobile to a “hold” rating in a research report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They issued a “buy” rating and a $37.00 price target on the stock. Tigress Financial lifted their price target on shares of Liftoff Mobile from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Needham & Company LLC initiated coverage on Liftoff Mobile in a research note on Monday, June 29th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on Liftoff Mobile in a report on Monday, June 29th. They set an “equal weight” rating and a $30.00 price objective for the company.

Institutional Trading of Liftoff Mobile

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

Liftoff Mobile Price Performance

NASDAQ LFTO opened at $15.41 on Wednesday. Liftoff Mobile has a 52-week low of $15.02 and a 52-week high of $30.10. The stock’s 50-day moving average is $18.81. The stock has a market capitalization of $2.61 billion and a P/E ratio of -513.67.

Liftoff Mobile (NASDAQ:LFTO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.49. The company had revenue of $219.51 million during the quarter. On average, research analysts predict that Liftoff Mobile will post 0.74 earnings per share for the current fiscal year.

Liftoff Mobile Company Profile

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.