Liftoff Mobile (NASDAQ:LFTO) Reaches New 52-Week Low – What’s Next?
by Jessica Moore · The Cerbat GemLiftoff Mobile, Inc. (NASDAQ:LFTO – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.14 and last traded at $16.35, with a volume of 1711061 shares trading hands. The stock had previously closed at $17.65.
Wall Street Analysts Forecast Growth
LFTO has been the subject of several recent research reports. Freedom Broker upgraded shares of Liftoff Mobile to a “hold” rating in a research report on Thursday, September 10th. Piper Sandler started coverage on shares of Liftoff Mobile in a research note on Tuesday. They set a “neutral” rating and a $19.00 price objective on the stock. Zacks Research raised shares of Liftoff Mobile to a “hold” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group started coverage on Liftoff Mobile in a research report on Monday, June 29th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Wall Street Zen upgraded Liftoff Mobile from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Liftoff Mobile has a consensus rating of “Moderate Buy” and an average price target of $34.64.
View Our Latest Stock Analysis on Liftoff Mobile
Liftoff Mobile Trading Down 1.6%
The stock’s 50 day moving average price is $20.44.
Liftoff Mobile (NASDAQ:LFTO – Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.49. The company had revenue of $219.51 million for the quarter. Equities research analysts expect that Liftoff Mobile, Inc. will post 0.7 EPS for the current year.
Institutional Investors Weigh In On Liftoff Mobile
Several institutional investors and hedge funds have recently added to or reduced their stakes in LFTO. Parkside Financial Bank & Trust bought a new stake in Liftoff Mobile during the 2nd quarter worth $30,000. WT Asset Management Ltd acquired a new position in shares of Liftoff Mobile in the second quarter valued at approximately $480,000. Legal & General Group Plc bought a new position in Liftoff Mobile in the 2nd quarter valued at approximately $486,000. Bank of America Corp DE bought a new position in Liftoff Mobile in the 2nd quarter valued at approximately $1,282,000. Finally, Readystate Asset Management LP acquired a new stake in Liftoff Mobile during the 2nd quarter worth approximately $1,677,000.
About Liftoff Mobile
Liftoff Mobile, Inc is a mobile technology company that provides software and services designed to help app developers and advertisers acquire, engage and monetize users. Its platform uses data-driven advertising and machine-learning tools to support user acquisition, retargeting, campaign optimization and creative testing across mobile applications.
The company also serves mobile publishers by offering advertising monetization solutions, including tools for managing and optimizing in-app ad inventory.