Liftoff Mobile (NASDAQ:LFTO) Shares Gap Up – What’s Next?

Liftoff Mobile, Inc. (NASDAQ:LFTO)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $18.55, but opened at $19.39. Liftoff Mobile shares last traded at $19.26, with a volume of 233,885 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reduced their price target on shares of Liftoff Mobile from $32.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $26.00 price target on shares of Liftoff Mobile in a report on Wednesday, October 14th. Tigress Financial increased their price objective on Liftoff Mobile from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Wedbush began coverage on Liftoff Mobile in a research report on Tuesday, October 27th. They issued an “outperform” rating and a $25.00 price objective on the stock. Finally, BTIG Research dropped their price objective on Liftoff Mobile from $35.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Liftoff Mobile has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Liftoff Mobile Price Performance

The stock’s 50 day moving average is $16.71. The company has a market capitalization of $3.19 billion and a price-to-earnings ratio of -628.00.

Liftoff Mobile (NASDAQ:LFTO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.49. The company had revenue of $219.51 million for the quarter. On average, equities research analysts anticipate that Liftoff Mobile, Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LFTO. Wellington Management Group LLP bought a new position in Liftoff Mobile in the second quarter valued at $4,433,000. HBK Investments L P purchased a new stake in Liftoff Mobile during the second quarter valued at about $6,155,000. Readystate Asset Management LP purchased a new stake in Liftoff Mobile during the second quarter valued at about $1,677,000. Alyeska Investment Group L.P. bought a new stake in Liftoff Mobile during the second quarter worth about $14,412,000. Finally, Bank of America Corp DE bought a new stake in Liftoff Mobile during the second quarter worth about $1,282,000.

About Liftoff Mobile

Liftoff Mobile provides marketing and monetization technology for mobile apps. Its platform helps app developers and publishers attract users, promote engagement and generate revenue through in-app advertising. The company’s services include user acquisition campaigns, advertising creative tools, audience targeting and optimization, and monetization solutions that connect app publishers with advertisers. Liftoff uses data and machine-learning technology to help clients manage and improve campaign performance across mobile platforms.