Liftoff Mobile (NASDAQ:LFTO) Sets New 1-Year Low – Time to Sell?

Liftoff Mobile, Inc. (NASDAQ:LFTO) hit a new 52-week low during trading on Monday. The stock traded as low as $15.02 and last traded at $15.14, with a volume of 20247 shares. The stock had previously closed at $15.15.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LFTO shares. Needham & Company LLC assumed coverage on Liftoff Mobile in a research report on Monday, June 29th. They set a “buy” rating and a $42.00 price target on the stock. Wall Street Zen upgraded shares of Liftoff Mobile from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. William Blair began coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set an “outperform” rating for the company. BTIG Research reaffirmed a “buy” rating and set a $35.00 target price on shares of Liftoff Mobile in a report on Thursday, August 13th. Finally, Barclays assumed coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued an “overweight” rating and a $34.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.64.

Liftoff Mobile Stock Up 1.5%

The firm has a market cap of $2.62 billion and a price-to-earnings ratio of -516.33. The business has a 50 day moving average price of $19.19.

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, beating the consensus estimate of ($0.52) by $0.49. The business had revenue of $219.51 million during the quarter. On average, analysts predict that Liftoff Mobile, Inc. will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Liftoff Mobile

Hedge funds have recently bought and sold shares of the stock. HBK Investments L P purchased a new position in Liftoff Mobile in the 2nd quarter worth approximately $6,155,000. Parkside Financial Bank & Trust bought a new position in shares of Liftoff Mobile in the 2nd quarter worth $30,000. Readystate Asset Management LP purchased a new stake in shares of Liftoff Mobile during the 2nd quarter valued at $1,677,000. Alyeska Investment Group L.P. purchased a new stake in shares of Liftoff Mobile during the 2nd quarter valued at $14,412,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Liftoff Mobile during the 2nd quarter valued at $4,433,000.

Liftoff Mobile Company Profile

Liftoff Mobile, Inc is a mobile technology company that provides marketing, advertising and monetization solutions for app developers, advertisers and publishers. Its platform helps businesses acquire and retain mobile users through programmatic advertising, audience targeting, retargeting and campaign optimization.

The company offers tools designed to support the mobile app lifecycle, including user-acquisition campaigns, creative development and testing, influencer marketing, and in-app advertising monetization.