Readystate Asset Management LP Invests $1.68 Million in Liftoff Mobile, Inc. $LFTO

Readystate Asset Management LP bought a new position in Liftoff Mobile, Inc. (NASDAQ:LFTO) during the second quarter, Holdings Channel reports. The firm bought 69,834 shares of the company’s stock, valued at approximately $1,677,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WT Asset Management Ltd purchased a new position in Liftoff Mobile during the 2nd quarter valued at approximately $480,000. Legal & General Group Plc purchased a new stake in shares of Liftoff Mobile during the 2nd quarter worth approximately $486,000. Bank of America Corp DE bought a new position in shares of Liftoff Mobile during the 2nd quarter valued at approximately $1,282,000. Wellington Management Group LLP bought a new position in shares of Liftoff Mobile during the 2nd quarter valued at approximately $4,433,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Liftoff Mobile in the second quarter valued at $14,412,000.

Wall Street Analysts Forecast Growth

LFTO has been the topic of a number of recent research reports. Tigress Financial upped their price target on shares of Liftoff Mobile from $39.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, September 1st. Weiss Ratings restated a “sell (e)” rating on shares of Liftoff Mobile in a report on Tuesday, September 1st. Wolfe Research started coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They set a “peer perform” rating on the stock. BTIG Research reaffirmed a “buy” rating and issued a $35.00 price target on shares of Liftoff Mobile in a report on Thursday, August 13th. Finally, Wells Fargo & Company lifted their price target on Liftoff Mobile from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.85.

Liftoff Mobile Stock Performance

Shares of Liftoff Mobile stock opened at $18.74 on Tuesday. The firm has a fifty day simple moving average of $21.97. Liftoff Mobile, Inc. has a 52 week low of $17.90 and a 52 week high of $30.10.

Liftoff Mobile (NASDAQ:LFTO) last released its 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 during the quarter. On average, equities analysts expect that Liftoff Mobile, Inc. will post 0.7 EPS for the current fiscal year.

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.