Liftoff Mobile (NASDAQ:LFTO) Stock Price Breaks Above 50 Day Moving Average – Time to Sell?

Liftoff Mobile, Inc. (NASDAQ:LFTO)’s stock price passed above its fifty day moving average during trading on Thursday. The stock has a fifty 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LFTO. Cantor Fitzgerald cut their price target on Liftoff Mobile from $32.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, October 19th. BTIG Research reduced their price target on shares of Liftoff Mobile from $35.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Loop Capital set a $27.00 price objective on shares of Liftoff Mobile in a report on Friday, October 9th. Weiss Ratings cut shares of Liftoff Mobile from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, October 13th. Finally, Cannonball Research upgraded shares of Liftoff Mobile to a “hold” rating in a research report on Saturday, September 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Liftoff Mobile currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

Liftoff Mobile Stock Performance

The stock has a market cap of $2.90 billion and a P/E ratio of -571.67. The company has a 50-day simple moving average of $16.74.

Liftoff Mobile (NASDAQ:LFTO) last issued its quarterly 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 firm had revenue of $219.51 million for the quarter. As a group, equities research analysts predict that Liftoff Mobile, Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Liftoff Mobile Company Profile

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.