BTIG Research Has Lowered Expectations for Liftoff Mobile (NASDAQ:LFTO) Stock Price

Key Points

• BTIG Research cut Liftoff Mobile’s price target from $35 to $27 but maintained a “buy” rating, implying approximately 67% upside from the stock’s $16.15 price.
• Analyst sentiment remains broadly positive: Liftoff has an average “Moderate Buy” rating and a consensus price target of $34.07, despite targets ranging from $27 to $41.
• Liftoff exceeded quarterly earnings expectations, reporting a loss of $0.03 per share versus the projected $0.52 loss, alongside $219.51 million in revenue.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) had its price objective reduced by equities researchers at BTIG Research from $35.00 to $27.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price objective would indicate a potential upside of 67.18% from the stock's current price.

A number of other analysts also recently weighed in on the stock. Barclays assumed coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They set an "overweight" rating and a $34.00 target price for the company. Wall Street Zen raised shares of Liftoff Mobile from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Zacks Research upgraded shares of Liftoff Mobile to a "hold" rating in a research report on Tuesday, June 30th. Cantor Fitzgerald dropped their target price on shares of Liftoff Mobile from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Finally, Tigress Financial upped their price target on shares of Liftoff Mobile from $39.00 to $41.00 and gave the company a "buy" rating in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.07.

Liftoff Mobile Trading Up 2.1%

Shares of Liftoff Mobile stock opened at $16.15 on Friday. The company has a market capitalization of $2.73 billion and a PE ratio of -538.33. Liftoff Mobile has a twelve month low of $15.02 and a twelve month high of $30.10. The business has a fifty day simple moving average of $18.95.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) last announced its 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 company had revenue of $219.51 million for the quarter. As a group, equities research analysts anticipate that Liftoff Mobile will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Liftoff Mobile

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

Liftoff Mobile Company Profile

Liftoff Mobile, Inc is a mobile technology company that provides marketing, advertising and monetization solutions for app developers, advertisers and publishers. Its platform helps businesses acquire and retain mobile users through programmatic advertising, audience targeting, retargeting and campaign optimization.

The company offers tools designed to support the mobile app lifecycle, including user-acquisition campaigns, creative development and testing, influencer marketing, and in-app advertising monetization.

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