Liftoff Mobile (NASDAQ:LFTO) Shares Break Above 50 Day Moving Average – What’s Next?

Liftoff Mobile, Inc. (NASDAQ:LFTO)’s share price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $16.74 and traded as high as $17.32. Liftoff Mobile shares last traded at $17.15, with a volume of 1,072,496 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LFTO shares. Freedom Broker raised Liftoff Mobile to a “hold” rating in a research note on Thursday, September 10th. Morgan Stanley decreased their price objective on Liftoff Mobile from $30.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. Raymond James Financial reiterated an “outperform” rating and issued a $33.00 price objective on shares of Liftoff Mobile in a report on Thursday, August 13th. Wall Street Zen raised Liftoff Mobile from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Cannonball Research upgraded Liftoff Mobile to a “hold” rating in a report on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.25.

Liftoff Mobile Stock Performance

The stock has a market capitalization of $2.90 billion and a PE ratio of -571.67. The stock’s 50 day moving average is $16.74.

Liftoff Mobile (NASDAQ:LFTO) last posted 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 firm had revenue of $219.51 million during the quarter. As a group, analysts forecast that Liftoff Mobile, Inc. will post 0.78 EPS for the current year.

Institutional Trading of Liftoff Mobile

A number of large investors have recently made changes to their positions in LFTO. HBK Investments L P acquired a new stake in Liftoff Mobile during the 2nd quarter worth $6,155,000. Parkside Financial Bank & Trust bought a new position in Liftoff Mobile during the second quarter worth about $30,000. Readystate Asset Management LP bought a new position in Liftoff Mobile during the second quarter worth about $1,677,000. Alyeska Investment Group L.P. bought a new position in Liftoff Mobile during the second quarter worth about $14,412,000. Finally, Wellington Management Group LLP acquired a new position in Liftoff Mobile in the second quarter valued at about $4,433,000.

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.