Liftoff Mobile (NASDAQ:LFTO) Given New $21.00 Price Target at Wells Fargo & Company

Liftoff Mobile (NASDAQ:LFTO) had its price objective reduced by stock analysts at Wells Fargo & Company from $34.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 24.04% from the company’s current price.

A number of other equities research analysts have also commented on LFTO. Tigress Financial raised 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. Weiss Ratings downgraded Liftoff Mobile from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, October 13th. Zacks Research upgraded Liftoff Mobile to a “hold” rating in a report on Tuesday, June 30th. Wall Street Zen raised shares of Liftoff Mobile from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Morgan Stanley decreased their price target on shares of Liftoff Mobile from $30.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Liftoff Mobile has a consensus rating of “Moderate Buy” and an average target price of $30.12.

Liftoff Mobile Price Performance

Shares of Liftoff Mobile stock traded down $0.17 during midday trading on Wednesday, hitting $16.93. The company’s stock had a trading volume of 23,105 shares, compared to its average volume of 836,022. The stock has a market cap of $2.87 billion and a price-to-earnings ratio of -564.33. The company’s 50-day simple moving average is $17.22. Liftoff Mobile has a 1-year low of $15.02 and a 1-year high of $30.10.

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, beating analysts’ consensus estimates of ($0.52) by $0.49. The business had revenue of $219.51 million for the quarter. On average, analysts forecast that Liftoff Mobile will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Liftoff Mobile

Several institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. acquired a new stake in Liftoff Mobile in the 2nd quarter worth approximately $14,412,000. HBK Investments L P acquired a new stake in Liftoff Mobile in the 2nd quarter worth $6,155,000. Wellington Management Group LLP acquired a new stake in Liftoff Mobile in the 2nd quarter worth $4,433,000. Readystate Asset Management LP bought a new position in Liftoff Mobile during the second quarter valued at about $1,677,000. Finally, Bank of America Corp DE acquired a new position in shares of Liftoff Mobile in the second quarter valued at $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.