Liftoff Mobile (NASDAQ:LFTO) Stock Price Up 8.1% – What’s Next?

Liftoff Mobile, Inc. (NASDAQ:LFTO)’s stock price rose 8.1% during mid-day trading on Thursday. The stock traded as high as $17.00 and last traded at $16.96. 627,668 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 836,974 shares. The stock had previously closed at $15.69.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Liftoff Mobile from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Freedom Broker raised Liftoff Mobile to a “hold” rating in a research note on Thursday, September 10th. Wedbush assumed coverage on Liftoff Mobile in a report on Tuesday, October 27th. They issued an “outperform” rating and a $25.00 price objective for the company. Tigress Financial raised their price objective on Liftoff Mobile from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Finally, UBS Group dropped their target price on shares of Liftoff Mobile from $39.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Liftoff Mobile currently has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Liftoff Mobile Stock Performance

The stock’s fifty day moving average price is $16.76. The stock has a market capitalization of $2.90 billion and a P/E ratio of -570.67.

Liftoff Mobile (NASDAQ:LFTO) last released its 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 company had revenue of $219.51 million for the quarter. On average, research analysts forecast that Liftoff Mobile, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust purchased a new position in shares of Liftoff Mobile in the 2nd quarter worth $30,000. WT Asset Management Ltd bought a new position in shares of Liftoff Mobile in the 2nd quarter valued at about $480,000. Legal & General Group Plc bought a new position in shares of Liftoff Mobile in the 2nd quarter valued at about $486,000. Bank of America Corp DE purchased a new position in Liftoff Mobile in the second quarter worth about $1,282,000. Finally, Readystate Asset Management LP bought a new stake in Liftoff Mobile during the second quarter worth approximately $1,677,000.

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.