Liftoff Mobile (NASDAQ:LFTO) Shares Up 10.1% – Time to Buy?

Liftoff Mobile, Inc. (NASDAQ:LFTO)’s stock price rose 10.1% during trading on Friday . The stock traded as high as $22.40 and last traded at $22.08. Approximately 876,734 shares changed hands during trading, a decline of 2% from the average session volume of 892,943 shares. The stock had previously closed at $20.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada began coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They issued an “outperform” rating and a $35.00 target price on the stock. Weiss Ratings began coverage on Liftoff Mobile in a report on Thursday, June 4th. They set a “sell (e)” rating for the company. The Goldman Sachs Group started coverage on Liftoff Mobile in a report on Monday, June 29th. They set a “buy” rating and a $40.00 price objective for the company. Wolfe Research assumed coverage on Liftoff Mobile in a report on Monday, June 29th. They issued a “peer perform” rating on the stock. Finally, Zacks Research raised Liftoff Mobile to a “hold” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.69.

Liftoff Mobile Stock Performance

The company’s fifty day moving average price is $24.31.

Liftoff Mobile (NASDAQ:LFTO) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.49. The firm had revenue of $219.51 million for the quarter. On average, analysts expect that Liftoff Mobile, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Liftoff Mobile

In other Liftoff Mobile news, Director Atlantic Genpar L.P. General bought 1,304,347 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $23.00 per share, for a total transaction of $29,999,981.00. Following the purchase, the director directly owned 25,315,646 shares of the company’s stock, valued at approximately $582,259,858. This represents a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Liftoff Mobile

A hedge fund recently bought a new position in Liftoff Mobile stock. Legal & General Group Plc acquired a new position in Liftoff Mobile, Inc. (NASDAQ:LFTO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,000 shares of the company’s stock, valued at approximately $486,000.

Liftoff Mobile Company Profile

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