Liftoff Mobile (NASDAQ:LFTO) Hits New 52-Week Low – Here’s What Happened

Liftoff Mobile, Inc. (NASDAQ:LFTO) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $17.79 and last traded at $17.98, with a volume of 47193 shares. The stock had previously closed at $18.50.

Analyst Ratings Changes

Several analysts have commented on the company. Needham & Company LLC began coverage on Liftoff Mobile in a research note on Monday, June 29th. They set a “buy” rating and a $42.00 price objective for the company. Morgan Stanley initiated coverage on Liftoff Mobile in a research note on Monday, June 29th. They issued an “equal weight” rating and a $30.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Liftoff Mobile in a report on Monday, June 29th. They issued a “buy” rating and a $37.00 target price on the stock. Raymond James Financial restated an “outperform” rating and set a $33.00 price target on shares of Liftoff Mobile in a research note on Thursday, August 13th. Finally, William Blair initiated coverage on Liftoff Mobile in a report on Monday, June 29th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Liftoff Mobile currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.85.

Liftoff Mobile Trading Up 4.6%

The company has a 50 day moving average price of $21.47.

Liftoff Mobile (NASDAQ:LFTO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.49. The firm had revenue of $219.51 million during the quarter. Research analysts expect that Liftoff Mobile, Inc. will post 0.7 EPS for the current fiscal year.

Institutional Trading of Liftoff Mobile

Several hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust purchased a new position in Liftoff Mobile in the second quarter worth $30,000. Legal & General Group Plc purchased a new stake in shares of Liftoff Mobile during the 2nd quarter worth $486,000. WT Asset Management Ltd purchased a new stake in shares of Liftoff Mobile during the 2nd quarter worth $480,000. Bank of America Corp DE acquired a new position in shares of Liftoff Mobile during the 2nd quarter worth $1,282,000. Finally, Readystate Asset Management LP acquired a new position in shares of Liftoff Mobile during the 2nd quarter worth $1,677,000.

Liftoff Mobile Company Profile

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.