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

Liftoff Mobile, Inc. (NASDAQ:LFTO)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $17.90 and last traded at $18.12, with a volume of 77700 shares changing hands. The stock had previously closed at $18.58.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and set a $33.00 price objective on shares of Liftoff Mobile in a report on Thursday, August 13th. Weiss Ratings started coverage on Liftoff Mobile in a research report on Thursday, June 4th. They set a “sell (e)” rating for the company. Needham & Company LLC began coverage on Liftoff Mobile in a research note on Monday, June 29th. They set a “buy” rating and a $42.00 price target on the stock. Tigress Financial initiated coverage on Liftoff Mobile in a report on Monday, July 13th. They issued a “buy” rating and a $39.00 price objective on the stock. Finally, UBS Group raised their price objective on Liftoff Mobile from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.69.

Liftoff Mobile Trading Up 0.1%

The company has a 50 day simple moving average of $22.72.

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

Insider Activity

In related news, Director Atlantic Genpar L.P. General bought 1,304,347 shares of the stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $23.00 per share, for a total transaction of $29,999,981.00. Following the completion of the purchase, the director directly owned 25,315,646 shares of the company’s stock, valued at $582,259,858. This represents a 5.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. WT Asset Management Ltd purchased a new stake in Liftoff Mobile in the 2nd quarter worth approximately $480,000. Legal & General Group Plc purchased a new stake in Liftoff Mobile during the second quarter worth $486,000. Bank of America Corp DE acquired a new stake in Liftoff Mobile during the second quarter valued at $1,282,000. Readystate Asset Management LP acquired a new stake in Liftoff Mobile during the second quarter valued at $1,677,000. Finally, Wellington Management Group LLP purchased a new position in Liftoff Mobile in the second quarter valued at $4,433,000.

About Liftoff Mobile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.