Liftoff Mobile (NASDAQ:LFTO) Price Target Cut to $32.00 by Analysts at Cantor Fitzgerald

Liftoff Mobile (NASDAQ:LFTO) had its price target decreased by equities researchers at Cantor Fitzgerald from $33.00 to $32.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 26.68% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. UBS Group restated a “buy” rating on shares of Liftoff Mobile in a report on Thursday. Needham & Company LLC initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set a “buy” rating and a $42.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They set an “equal weight” rating and a $30.00 price objective on the stock. Jefferies Financial Group began coverage on Liftoff Mobile in a research note on Monday, June 29th. They issued a “buy” rating and a $34.00 target price for the company. Finally, BTIG Research assumed coverage on Liftoff Mobile in a research report on Monday, June 29th. They issued a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Liftoff Mobile presently has a consensus rating of “Moderate Buy” and an average target price of $35.38.

Liftoff Mobile Trading Up 4.6%

Liftoff Mobile stock opened at $25.26 on Thursday. Liftoff Mobile has a 52-week low of $21.43 and a 52-week high of $30.10. The stock’s 50 day simple moving average is $24.48.

Liftoff Mobile (NASDAQ:LFTO) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.49. The company had revenue of $219.51 million during the quarter. As a group, sell-side analysts forecast that Liftoff Mobile will post 0.14 EPS for the current year.

Insider Transactions at Liftoff Mobile

In related news, Director Atlantic Genpar L.P. General acquired 1,304,347 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $23.00 per share, with a total value of $29,999,981.00. Following the acquisition, the director owned 25,315,646 shares of the company’s stock, valued at approximately $582,259,858. This trade represents a 5.43% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Liftoff Mobile stock. WT Asset Management Ltd bought a new stake in shares of Liftoff Mobile, Inc. (NASDAQ:LFTO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,000 shares of the company’s stock, valued at approximately $480,000. Liftoff Mobile comprises about 0.0% of WT Asset Management Ltd’s holdings, making the stock its 25th largest position.

About Liftoff Mobile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.