Liftoff Mobile (NASDAQ:LFTO) Stock Rated "Outperform" in New Coverage at Wedbush

Key Points

• Wedbush initiated coverage of Liftoff Mobile with an “outperform” rating and a $25 price target, implying approximately 49% upside from the stock’s $16.75 price.
• Analyst sentiment is generally positive: Liftoff has a consensus “Moderate Buy” rating and an average price target of $30.94, though ratings range from Strong Buy to Sell.
• Liftoff recently beat quarterly earnings expectations, reporting a loss of $0.03 per share versus the consensus estimate of a $0.52 loss, alongside $219.51 million in revenue.

Stock analysts at Wedbush started coverage on shares of Liftoff Mobile (NASDAQ:LFTO - Get Free Report) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage set an "outperform" rating and a $25.00 price target on the stock. Wedbush's price objective would indicate a potential upside of 49.25% from the stock's current price.

A number of other equities analysts also recently issued reports on LFTO. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They issued a "buy" rating and a $37.00 price target for the company. Freedom Broker raised shares of Liftoff Mobile to a "hold" rating in a report on Thursday, September 10th. Weiss Ratings downgraded shares of Liftoff Mobile from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, October 13th. Tigress Financial upped their target price on shares of Liftoff Mobile from $39.00 to $41.00 and gave the stock a "buy" rating in a research report on Tuesday, September 1st. Finally, UBS Group upped their target price on shares of Liftoff Mobile from $38.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.94.

Liftoff Mobile Price Performance

Shares of NASDAQ:LFTO opened at $16.75 on Tuesday. The company has a 50-day simple moving average of $17.37. Liftoff Mobile has a one year low of $15.02 and a one year high of $30.10.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share 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 predict that Liftoff Mobile will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Liftoff Mobile

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in Liftoff Mobile during the second quarter valued at approximately $4,433,000. HBK Investments L P acquired a new stake in shares of Liftoff Mobile in the second quarter worth $6,155,000. Readystate Asset Management LP purchased a new position in shares of Liftoff Mobile in the 2nd quarter valued at $1,677,000. Alyeska Investment Group L.P. purchased a new position in shares of Liftoff Mobile in the 2nd quarter valued at $14,412,000. Finally, Bank of America Corp DE purchased a new position in shares of Liftoff Mobile in the 2nd quarter valued at $1,282,000.

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.

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