Cantor Fitzgerald Issues Pessimistic Forecast for Liftoff Mobile (NASDAQ:LFTO) Stock Price

Liftoff Mobile (NASDAQ:LFTO) had its target price decreased by investment analysts at Cantor Fitzgerald from $32.00 to $22.00 in a research note issued on Monday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 32.61% from the stock’s current price.

Several other brokerages also recently weighed in on LFTO. Loop Capital set a $27.00 target price on shares of Liftoff Mobile in a research note on Friday, October 9th. Wells Fargo & Company lifted their price target on shares of Liftoff Mobile from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Barclays initiated coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set an “overweight” rating and a $34.00 price target for the company. Freedom Broker upgraded shares of Liftoff Mobile to a “hold” rating in a report on Thursday, September 10th. Finally, Weiss Ratings downgraded shares of Liftoff Mobile from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Liftoff Mobile currently has an average rating of “Moderate Buy” and an average price target of $31.33.

Liftoff Mobile Stock Performance

NASDAQ LFTO opened at $16.59 on Monday. The firm’s 50 day moving average is $17.66. Liftoff Mobile has a fifty-two week low of $15.02 and a fifty-two week high of $30.10.

Liftoff Mobile (NASDAQ:LFTO) last issued its quarterly 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 during the quarter. On average, equities analysts expect that Liftoff Mobile will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

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