Liftoff Mobile (NASDAQ:LFTO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Liftoff Mobile (NASDAQ:LFTO) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other equities research analysts have also weighed in on LFTO. Morgan Stanley began coverage on Liftoff Mobile in a research report on Monday, June 29th. They issued an “equal weight” rating and a $30.00 target price on the stock. Barclays initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set an “overweight” rating and a $34.00 price target for the company. Zacks Research upgraded shares of Liftoff Mobile to a “hold” rating in a research report on Tuesday, June 30th. William Blair initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They issued an “outperform” rating on the stock. Finally, Wolfe Research began coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.69.

Liftoff Mobile Trading Down 9.6%

LFTO opened at $19.53 on Friday. The stock’s 50-day simple moving average is $24.06. Liftoff Mobile has a fifty-two week low of $19.33 and a fifty-two week high of $30.10.

Liftoff Mobile (NASDAQ:LFTO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.49. The company had revenue of $219.51 million during the quarter. Sell-side analysts predict that Liftoff Mobile will post 0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Liftoff Mobile news, Director Atlantic Genpar L.P. General bought 1,304,347 shares of the business’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $23.00 per share, with a total value 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. The trade was a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE bought a new stake in shares of Liftoff Mobile during the second quarter valued at about $1,282,000. Legal & General Group Plc acquired a new stake in Liftoff Mobile in the second quarter worth about $486,000. Finally, WT Asset Management Ltd bought a new position in Liftoff Mobile in the 2nd quarter valued at about $480,000.

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.