Freedom Broker Upgrades Liftoff Mobile (NASDAQ:LFTO) to Hold

Liftoff Mobile (NASDAQ:LFTO) was upgraded by Freedom Broker to a “hold” rating in a report released on Thursday, Zacks reports.

A number of other brokerages also recently issued reports on LFTO. Jefferies Financial Group started coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They issued a “buy” rating and a $34.00 price objective for the company. Morgan Stanley assumed coverage on Liftoff Mobile in a research note on Monday, June 29th. They issued an “equal weight” rating and a $30.00 target price on the stock. Cantor Fitzgerald reduced their target price on Liftoff Mobile from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. UBS Group increased their price target on Liftoff Mobile from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded Liftoff Mobile from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.85.

Liftoff Mobile Stock Performance

LFTO opened at $18.35 on Thursday. The business’s fifty day simple moving average is $21.47. Liftoff Mobile has a 1-year low of $17.47 and a 1-year high of $30.10.

Liftoff Mobile (NASDAQ:LFTO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.49. The business had revenue of $219.51 million during the quarter. On average, equities research analysts anticipate that Liftoff Mobile will post 0.7 earnings per share for the current year.

Institutional Trading of Liftoff Mobile

Several hedge funds have recently made changes to their positions in LFTO. Parkside Financial Bank & Trust bought a new stake in Liftoff Mobile in the 2nd quarter valued at about $30,000. WT Asset Management Ltd purchased a new position in shares of Liftoff Mobile in the second quarter worth about $480,000. Legal & General Group Plc purchased a new position in shares of Liftoff Mobile in the second quarter worth about $486,000. Bank of America Corp DE bought a new stake in shares of Liftoff Mobile in the second quarter valued at approximately $1,282,000. Finally, Readystate Asset Management LP bought a new stake in shares of Liftoff Mobile in the second quarter valued at approximately $1,677,000.

About Liftoff Mobile

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.