Liftoff Mobile (NASDAQ:LFTO) Stock Gets Price Target Cut from Wells Fargo & Company

Liftoff Mobile (NASDAQ:LFTO) had its price objective decreased by Wells Fargo & Company from $34.00 to $21.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on LFTO. Tigress Financial upped their target price 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. Morgan Stanley decreased their price target on Liftoff Mobile from $30.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 13th. UBS Group increased their price target on Liftoff Mobile from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Wall Street Zen raised Liftoff Mobile from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Piper Sandler began coverage on shares of Liftoff Mobile in a research report on Tuesday, September 22nd. They set a “neutral” rating and a $19.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Liftoff Mobile Price Performance

Liftoff Mobile stock opened at $14.79 on Wednesday. The firm has a market cap of $2.50 billion and a PE ratio of -493.00. Liftoff Mobile has a 1-year low of $14.03 and a 1-year high of $30.10. The stock has a fifty day simple moving average of $17.01.

Liftoff Mobile (NASDAQ:LFTO) last issued its quarterly earnings results 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 business had revenue of $219.51 million for the quarter. As a group, equities research analysts forecast that Liftoff Mobile will post 0.78 EPS for the current year.

Institutional Investors Weigh In On Liftoff Mobile

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. acquired a new stake in Liftoff Mobile during the 2nd quarter worth approximately $14,412,000. HBK Investments L P purchased a new stake in shares of Liftoff Mobile during the second quarter worth approximately $6,155,000. Wellington Management Group LLP purchased a new stake in shares of Liftoff Mobile during the second quarter worth approximately $4,433,000. Readystate Asset Management LP acquired a new stake in shares of Liftoff Mobile during the second quarter worth $1,677,000. Finally, Bank of America Corp DE acquired a new stake in shares of Liftoff Mobile during the second quarter worth $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.