Liftoff Mobile (NASDAQ:LFTO) Shares Gap Up – What’s Next?

Liftoff Mobile, Inc. (NASDAQ:LFTO) gapped up before the market opened on Thursday. The stock had previously closed at $18.55, but opened at $19.39. Liftoff Mobile shares last traded at $19.26, with a volume of 233,885 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LFTO. Piper Sandler started coverage on Liftoff Mobile in a research report on Tuesday, September 22nd. They issued a “neutral” rating and a $19.00 target price for the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $26.00 target price on shares of Liftoff Mobile in a research note on Wednesday, October 14th. UBS Group reduced their price target on shares of Liftoff Mobile from $39.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Cantor Fitzgerald lowered their price objective on shares of Liftoff Mobile from $32.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Finally, Freedom Broker raised shares of Liftoff Mobile to a “hold” rating in a research note on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

Liftoff Mobile Stock Up 1.6%

The company has a market cap of $3.19 billion and a P/E ratio of -628.00. The stock’s fifty day moving average price is $16.71.

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

Institutional Trading of Liftoff Mobile

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp bought a new position in shares of Liftoff Mobile in the third quarter worth approximately $5,691,000. Boston Partners raised its holdings in Liftoff Mobile by 107.4% during the 3rd quarter. Boston Partners now owns 1,480,509 shares of the company’s stock valued at $23,345,000 after buying an additional 766,512 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Liftoff Mobile during the 3rd quarter valued at $27,000. HBK Investments L P purchased a new stake in Liftoff Mobile during the 2nd quarter valued at $6,155,000. Finally, Parkside Financial Bank & Trust purchased a new stake in Liftoff Mobile during the 2nd quarter valued at $30,000.

About Liftoff Mobile

Liftoff Mobile provides marketing and monetization technology for mobile apps. Its platform helps app developers and publishers attract users, promote engagement and generate revenue through in-app advertising. The company’s services include user acquisition campaigns, advertising creative tools, audience targeting and optimization, and monetization solutions that connect app publishers with advertisers. Liftoff uses data and machine-learning technology to help clients manage and improve campaign performance across mobile platforms.