Liftoff Mobile, Inc. (NASDAQ:LFTO) Sees Large Growth in Short Interest

Liftoff Mobile, Inc. (NASDAQ:LFTO) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 1,035,642 shares, a growth of ∞ from the May 31st total of 0 shares. Based on an average trading volume of 1,968,245 shares, the short-interest ratio is presently 0.5 days. Approximately 0.6% of the shares of the company are sold short.

Liftoff Mobile News Roundup

Here are the key news stories impacting Liftoff Mobile this week:

• Positive Sentiment: Multiple major firms initiated coverage with bullish ratings and price targets well above the current share price, including UBS ($38), Goldman Sachs ($40), Jefferies ($34), Barclays ($34), Cantor Fitzgerald ($33), Wells Fargo ($32), BTIG ($35), RBC ($35), and Raymond James ($32). This kind of broad buy-side analyst support often boosts investor confidence. Analyst coverage reports
• Positive Sentiment: A Seeking Alpha article said Liftoff has an advantage in data and access to both demand and supply sides of mobile advertising, with its Cortex engine helping optimize advertiser ROI and publisher yield. The piece also cited 130% LTM net dollar retention and expansion into non-gaming verticals as evidence of a strong growth runway. Seeking Alpha article
• Neutral Sentiment: The IPO quiet period has expired, which allowed more analyst opinions to be published; the main market impact appears to be the influx of new coverage rather than any new company-specific operational announcement. MSN article

Insider Buying and Selling

In other news, Director Atlantic Genpar L.P. General bought 1,304,347 shares of the stock in a transaction on Friday, June 5th. The shares were bought at an average price 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 in the company, valued at $582,259,858. The trade was a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LFTO shares. Royal Bank Of Canada began coverage on shares of Liftoff Mobile in a report on Monday. They issued an “outperform” rating and a $35.00 price objective on the stock. Wells Fargo & Company started coverage on shares of Liftoff Mobile in a research report on Monday. They issued an “overweight” rating and a $32.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Liftoff Mobile in a research report on Monday. They set a “buy” rating and a $40.00 price objective for the company. Cantor Fitzgerald started coverage on Liftoff Mobile in a research note on Monday. They issued an “overweight” rating and a $33.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on Liftoff Mobile in a report on Monday. They set a “buy” rating and a $37.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.17.

Liftoff Mobile Stock Up 1.5%

Liftoff Mobile stock traded up $0.35 during mid-day trading on Wednesday, hitting $24.37. The stock had a trading volume of 515,520 shares, compared to its average volume of 1,105,761. Liftoff Mobile has a one year low of $23.08 and a one year high of $30.10.