Liftoff Mobile (NASDAQ:LFTO) Hits New 52-Week Low – Time to Sell?

Liftoff Mobile, Inc. (NASDAQ:LFTO)’s stock price reached a new 52-week low on Thursday . The stock 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LFTO shares. Deutsche Bank Aktiengesellschaft started coverage on Liftoff Mobile in a research note on Monday, June 29th. They set a “buy” rating and a $37.00 price objective on the stock. William Blair began coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set an “outperform” rating on the stock. Jefferies Financial Group assumed coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They set a “buy” rating and a $34.00 price target on the stock. Morgan Stanley began coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued an “equal weight” rating and a $30.00 price target for the company. Finally, Raymond James Financial reissued an “outperform” rating and issued a $33.00 price objective on shares of Liftoff Mobile in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Liftoff Mobile has an average rating of “Moderate Buy” and a consensus target price of $35.85.

Liftoff Mobile Stock Down 1.8%

The stock’s 50 day moving average is $21.73.

Liftoff Mobile (NASDAQ:LFTO) last issued its earnings results on Wednesday, August 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.49. The business had revenue of $219.51 million for the quarter. As a group, equities analysts forecast that Liftoff Mobile, Inc. will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of Liftoff Mobile

A number of hedge funds have recently modified their holdings of LFTO. Alyeska Investment Group L.P. bought a new stake in shares of Liftoff Mobile during the 2nd quarter worth about $14,412,000. Wellington Management Group LLP bought a new position in Liftoff Mobile in the 2nd quarter valued at about $4,433,000. Readystate Asset Management LP bought a new position in Liftoff Mobile in the 2nd quarter valued at about $1,677,000. Bank of America Corp DE bought a new position in Liftoff Mobile in the 2nd quarter valued at about $1,282,000. Finally, Legal & General Group Plc acquired a new stake in Liftoff Mobile during the second quarter worth approximately $486,000.

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.