Liftoff Mobile, Inc. (NASDAQ:LFTO – Get Free Report)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $19.00 and last traded at $19.04, with a volume of 90120 shares changing hands. The stock had previously closed at $19.66.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on LFTO shares. William Blair initiated coverage on Liftoff Mobile in a research report on Monday, June 29th. They set an “outperform” rating on the stock. Wolfe Research assumed coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set a “peer perform” rating on the stock. The Goldman Sachs Group initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set a “buy” rating and a $40.00 price objective for the company. Tigress Financial initiated coverage on shares of Liftoff Mobile in a research report on Monday, July 13th. They issued a “buy” rating and a $39.00 target price for the company. Finally, BTIG Research restated a “buy” rating and issued a $35.00 target price on shares of Liftoff Mobile in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.69.
Read Our Latest Stock Analysis on LFTO
Liftoff Mobile Stock Down 0.2%
Liftoff Mobile (NASDAQ:LFTO – Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share 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 anticipate that Liftoff Mobile, Inc. will post 0.7 earnings per share for the current year.
Insider Activity at Liftoff Mobile
In other Liftoff Mobile news, Director Atlantic Genpar L.P. General purchased 1,304,347 shares of the stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $23.00 per share, with a total value of $29,999,981.00. Following the completion of the acquisition, the director owned 25,315,646 shares of the company’s stock, valued at approximately $582,259,858. This trade represents a 5.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Hedge Funds Weigh In On Liftoff Mobile
Several large investors have recently bought and sold shares of the stock. WT Asset Management Ltd bought a new stake in shares of Liftoff Mobile during the 2nd quarter worth about $480,000. Legal & General Group Plc acquired a new stake in Liftoff Mobile in the 2nd quarter valued at about $486,000. Finally, Bank of America Corp DE acquired a new position in Liftoff Mobile in the second quarter worth approximately $1,282,000.
Liftoff Mobile Company Profile
Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.
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