Liftoff Mobile (NASDAQ:LFTO) Upgraded at Piper Sandler

Key Points

• Piper Sandler upgraded Liftoff Mobile to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $34.64.
• Liftoff Mobile shares opened at $16.35, near their 12-month low of $16.14 and below the 50-day moving average of $20.60.
• The company reported quarterly revenue of $219.51 million and an adjusted EPS loss of $0.03, beating the consensus estimate for a $0.52 loss; several hedge funds also initiated new positions.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) was upgraded by research analysts at Piper Sandler to a "hold" rating in a research report issued on Tuesday, Zacks reports.

A number of other research firms have also recently commented on LFTO. Morgan Stanley assumed coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They set an "equal weight" rating and a $30.00 target price on the stock. Tigress Financial raised their price target on shares of Liftoff Mobile from $39.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, September 1st. The Goldman Sachs Group initiated coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set a "buy" rating and a $40.00 price target on the stock. Royal Bank Of Canada began coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They issued an "outperform" rating and a $35.00 price objective on the stock. Finally, Needham & Company LLC initiated coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They issued a "buy" rating and a $42.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $34.64.

Liftoff Mobile Stock Performance

Shares of Liftoff Mobile stock opened at $16.35 on Tuesday. The firm has a fifty day moving average price of $20.60. Liftoff Mobile has a twelve month low of $16.14 and a twelve month high of $30.10.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) last announced 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 firm had revenue of $219.51 million for the quarter. As a group, equities research analysts predict that Liftoff Mobile will post 0.7 EPS for the current year.

Institutional Inflows and Outflows

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

About Liftoff Mobile

Liftoff Mobile, Inc is a mobile technology company that provides software and services designed to help app developers and advertisers acquire, engage and monetize users. Its platform uses data-driven advertising and machine-learning tools to support user acquisition, retargeting, campaign optimization and creative testing across mobile applications.

The company also serves mobile publishers by offering advertising monetization solutions, including tools for managing and optimizing in-app ad inventory.

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