Liftoff Mobile (NASDAQ:LFTO) Hits New 1-Year Low – Here’s Why

Liftoff Mobile, Inc. (NASDAQ:LFTO) shares reached a new 52-week low during trading on Monday. The stock traded as low as $15.41 and last traded at $15.58, with a volume of 18242 shares traded. The stock had previously closed at $15.91.

Analyst Ratings Changes

LFTO has been the topic of a number of recent research reports. Tigress Financial upped their price objective on Liftoff Mobile from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. BTIG Research reiterated a “buy” rating and issued a $35.00 target price on shares of Liftoff Mobile in a report on Thursday, August 13th. Piper Sandler began coverage on Liftoff Mobile in a research report on Tuesday, September 22nd. They set a “neutral” rating and a $19.00 target price on the stock. UBS Group increased their price target on Liftoff Mobile from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Cantor Fitzgerald lowered their price target on 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 analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Liftoff Mobile currently has an average rating of “Moderate Buy” and an average target price of $34.64.

Liftoff Mobile Trading Down 0.8%

The business has a 50-day moving average price of $20.17.

Liftoff Mobile (NASDAQ:LFTO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.49. The business had revenue of $219.51 million for the quarter. On average, analysts anticipate that Liftoff Mobile, Inc. will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Liftoff Mobile

Large investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. purchased a new stake in Liftoff Mobile in the second quarter worth $14,412,000. HBK Investments L P purchased a new stake in shares of Liftoff Mobile during the second quarter valued at $6,155,000. Wellington Management Group LLP purchased a new stake in shares of Liftoff Mobile during the second quarter valued at $4,433,000. Readystate Asset Management LP bought a new position in shares of Liftoff Mobile in the second quarter worth about $1,677,000. Finally, Bank of America Corp DE bought a new position in shares of Liftoff Mobile in the second quarter worth about $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.