Liftoff Mobile (NASDAQ:LFTO) Stock Gets Price Target Trim from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut Liftoff Mobile’s price target from $32 to $22 while maintaining an “overweight” rating, implying 33.25% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and average price target of $31.33; ratings include one Strong Buy, 12 Buys, six Holds and one Sell.
• Liftoff Mobile reported quarterly revenue of $219.51 million and adjusted its loss to $0.03 per share, beating the $0.52 loss expected by analysts. Shares opened at $16.51, near the lower end of their 52-week range.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) had its price objective cut by equities researchers at Cantor Fitzgerald from $32.00 to $22.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's target price would suggest a potential upside of 33.25% from the company's previous close.

Other equities research analysts also recently issued reports about 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 price objective for the company. Wall Street Zen upgraded Liftoff Mobile from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Cannonball Research upgraded Liftoff Mobile to a "hold" rating in a research note on Saturday, September 5th. Jefferies Financial Group assumed coverage on Liftoff Mobile in a report on Monday, June 29th. They set a "buy" rating and a $34.00 price target for the company. Finally, Zacks Research upgraded Liftoff Mobile to a "hold" rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Liftoff Mobile presently has a consensus rating of "Moderate Buy" and an average target price of $31.33.

Liftoff Mobile Price Performance

Shares of LFTO opened at $16.51 on Monday. The company has a market capitalization of $2.80 billion and a price-to-earnings ratio of -550.33. The company has a 50-day moving average of $17.99. Liftoff Mobile has a fifty-two week low of $15.02 and a fifty-two week high of $30.10.

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, sell-side analysts expect that Liftoff Mobile will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LFTO. Alyeska Investment Group L.P. bought a new position in shares of Liftoff Mobile during the second quarter worth approximately $14,412,000. HBK Investments L P bought a new stake in shares of Liftoff Mobile in the second quarter valued at approximately $6,155,000. Wellington Management Group LLP bought a new stake in shares of Liftoff Mobile in the second quarter valued at approximately $4,433,000. Readystate Asset Management LP bought a new stake in shares of Liftoff Mobile in the second quarter valued at approximately $1,677,000. Finally, Bank of America Corp DE acquired a new stake in Liftoff Mobile during the second quarter worth approximately $1,282,000.

About Liftoff Mobile

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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