Liftoff Mobile (NASDAQ:LFTO) Issues Earnings Results

Liftoff Mobile (NASDAQ:LFTO) issued its quarterly earnings data on Wednesday. The company reported ($0.03) EPS for the quarter, FiscalAI reports. The business had revenue of $219.51 million during the quarter.

Liftoff Mobile Stock Performance

Shares of LFTO stock traded up $1.10 during trading hours on Wednesday, hitting $25.26. 1,294,995 shares of the company’s stock were exchanged, compared to its average volume of 842,475. Liftoff Mobile has a 12-month low of $21.43 and a 12-month high of $30.10. The stock has a 50 day simple moving average of $24.46.

Insiders Place Their Bets

In other Liftoff Mobile news, Director Atlantic Genpar L.P. General purchased 1,304,347 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $23.00 per share, with a total value 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 approximately $582,259,858. This trade represents a 5.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Liftoff Mobile

An institutional investor recently bought a new stake in Liftoff Mobile stock. WT Asset Management Ltd purchased a new position in shares of Liftoff Mobile, Inc. (NASDAQ:LFTO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,000 shares of the company’s stock, valued at approximately $480,000. Liftoff Mobile comprises approximately 0.0% of WT Asset Management Ltd’s portfolio, making the stock its 25th biggest holding.

Analyst Ratings Changes

LFTO has been the topic of several analyst reports. UBS Group started coverage on Liftoff Mobile in a research report on Monday, June 29th. They set a “buy” rating and a $38.00 target price on the stock. Raymond James Financial assumed coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They set an “outperform” rating and a $32.00 target price for the company. The Goldman Sachs Group began coverage on Liftoff Mobile in a research note on Monday, June 29th. They set a “buy” rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Cantor Fitzgerald initiated coverage on Liftoff Mobile in a report on Monday, June 29th. They set an “overweight” rating and a $33.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.46.

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.