Liftoff Mobile (NASDAQ:LFTO) Sets New 1-Year Low – Should You Sell?

Liftoff Mobile, Inc. (NASDAQ:LFTO) hit a new 52-week low on Wednesday . The company traded as low as $17.15 and last traded at $17.20, with a volume of 516929 shares changing hands. The stock had previously closed at $18.27.

Analysts Set New Price Targets

LFTO has been the subject of a number of analyst reports. Royal Bank Of Canada assumed coverage on Liftoff Mobile in a research report on Monday, June 29th. They set an “outperform” rating and a $35.00 price objective for the company. Freedom Broker raised shares of Liftoff Mobile to a “hold” rating in a research report on Thursday, September 10th. Wall Street Zen raised shares of Liftoff Mobile from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Barclays initiated coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued an “overweight” rating and a $34.00 target price on the stock. Finally, Cantor Fitzgerald reduced their price target on shares of Liftoff Mobile from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.85.

Liftoff Mobile Stock Down 1.0%

The firm’s fifty day simple moving average is $21.03.

Liftoff Mobile (NASDAQ:LFTO) last released its quarterly earnings data 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 during the quarter. As a group, equities analysts predict that Liftoff Mobile, Inc. will post 0.7 EPS for the current fiscal year.

Institutional Trading of Liftoff Mobile

A number of large investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new position in shares of Liftoff Mobile during the second quarter valued at approximately $14,412,000. HBK Investments L P bought a new stake in Liftoff Mobile in the 2nd quarter worth approximately $6,155,000. Wellington Management Group LLP bought a new stake in Liftoff Mobile in the 2nd quarter worth approximately $4,433,000. Readystate Asset Management LP purchased a new stake in Liftoff Mobile during the 2nd quarter valued at $1,677,000. Finally, Bank of America Corp DE purchased a new stake in Liftoff Mobile during the 2nd quarter valued at $1,282,000.

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.