Liftoff Mobile, Inc. (NASDAQ:LFTO) Receives $35.69 Average Price Target from Brokerages

Shares of Liftoff Mobile, Inc. (NASDAQ:LFTO) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $35.6923.

Several research analysts have recently issued reports on LFTO shares. Wells Fargo & Company raised their price objective on Liftoff Mobile from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Jefferies Financial Group began coverage on Liftoff Mobile in a research report on Monday, June 29th. They issued a “buy” rating and a $34.00 target price on the stock. BTIG Research reiterated a “buy” rating and issued a $35.00 price target on shares of Liftoff Mobile in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They set a “buy” rating and a $37.00 price target for the company. Finally, Morgan Stanley began coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set an “equal weight” rating and a $30.00 price objective for the company.

Liftoff Mobile Stock Performance

Shares of LFTO opened at $19.16 on Tuesday. The firm’s fifty day moving average is $23.45. Liftoff Mobile has a 1-year low of $18.11 and a 1-year high of $30.10.

Liftoff Mobile (NASDAQ:LFTO) last issued its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.49. The firm had revenue of $219.51 million during the quarter. Sell-side analysts anticipate that Liftoff Mobile will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at Liftoff Mobile

In other Liftoff Mobile news, Director Atlantic Genpar L.P. General bought 1,304,347 shares of Liftoff Mobile stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $23.00 per share, with a total value of $29,999,981.00. Following the completion of the acquisition, the director directly owned 25,315,646 shares in the company, valued at approximately $582,259,858. This trade represents a 5.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Liftoff Mobile

Several hedge funds have recently added to or reduced their stakes in LFTO. WT Asset Management Ltd acquired a new stake in Liftoff Mobile during the 2nd quarter worth about $480,000. Legal & General Group Plc acquired a new position in shares of Liftoff Mobile in the 2nd quarter valued at about $486,000. Bank of America Corp DE purchased a new stake in shares of Liftoff Mobile in the second quarter worth about $1,282,000. Readystate Asset Management LP purchased a new stake in shares of Liftoff Mobile in the second quarter worth about $1,677,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Liftoff Mobile in the second quarter worth about $4,433,000.

Liftoff Mobile Company Profile

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