Liftoff Mobile (NASDAQ:LFTO) Stock Price Target Lowered at Wells Fargo & Company

Liftoff Mobile (NASDAQ:LFTO) had its target price decreased by analysts at Wells Fargo & Company from $34.00 to $21.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 24.04% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Liftoff Mobile from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Cantor Fitzgerald cut their target price on shares of Liftoff Mobile from $32.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Wedbush began coverage on shares of Liftoff Mobile in a report on Tuesday. They set an “outperform” rating and a $25.00 target price for the company. Loop Capital set a $27.00 price target on shares of Liftoff Mobile in a research report on Friday, October 9th. Finally, Freedom Broker upgraded shares of Liftoff Mobile to a “hold” rating in a research report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Liftoff Mobile has an average rating of “Moderate Buy” and a consensus price target of $30.12.

Liftoff Mobile Stock Performance

Shares of Liftoff Mobile stock traded down $0.17 during trading on Wednesday, hitting $16.93. The stock had a trading volume of 23,105 shares, compared to its average volume of 836,022. The stock has a market capitalization of $2.87 billion and a price-to-earnings ratio of -564.33. The firm’s fifty day simple moving average is $17.22. Liftoff Mobile has a fifty-two week low of $15.02 and a fifty-two week high of $30.10.

Liftoff Mobile (NASDAQ:LFTO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.49. The business had revenue of $219.51 million during the quarter. On average, analysts predict that Liftoff Mobile will post 0.78 earnings per share for the current year.

Institutional Trading of Liftoff Mobile

Several institutional investors and hedge funds have recently bought and sold shares of the stock. HBK Investments L P purchased a new stake in Liftoff Mobile during the second quarter valued at about $6,155,000. Parkside Financial Bank & Trust purchased a new position in shares of Liftoff Mobile in the second quarter worth approximately $30,000. Readystate Asset Management LP purchased a new position in shares of Liftoff Mobile in the second quarter worth approximately $1,677,000. Alyeska Investment Group L.P. acquired a new stake in shares of Liftoff Mobile during the second quarter valued at approximately $14,412,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Liftoff Mobile during 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.