Cantor Fitzgerald Has Lowered Expectations for Liftoff Mobile (NASDAQ:LFTO) Stock Price

Key Points

• Cantor Fitzgerald cut Liftoff Mobile’s price target to $32 from $33 while maintaining an “overweight” rating, implying approximately 26.7% upside from the previous close.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus rating and an average price target of $35.38; targets from other firms range from $30 to $42.
• Liftoff Mobile reported quarterly EPS of $(0.03), beating estimates of $(0.52), on revenue of $219.51 million. The stock opened at $25.26 and was trading 4.6% higher.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) had its price target reduced by research analysts at Cantor Fitzgerald from $33.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective indicates a potential upside of 26.68% from the company's previous close.

LFTO has been the topic of a number of other reports. Tigress Financial began coverage on shares of Liftoff Mobile in a report on Monday, July 13th. They set a "buy" rating and a $39.00 target price on the stock. Morgan Stanley initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set an "equal weight" rating and a $30.00 price target on the stock. Needham & Company LLC initiated coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued a "buy" rating and a $42.00 price objective on the stock. Wolfe Research assumed coverage on Liftoff Mobile in a report on Monday, June 29th. They issued a "peer perform" rating for the company. Finally, BTIG Research started coverage on Liftoff Mobile in a research report on Monday, June 29th. They set a "buy" rating and a $35.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Liftoff Mobile currently has an average rating of "Moderate Buy" and a consensus price target of $35.38.

Liftoff Mobile Trading Up 4.6%

NASDAQ:LFTO opened at $25.26 on Thursday. The business's 50-day moving average price is $24.48. Liftoff Mobile has a 1-year low of $21.43 and a 1-year high of $30.10.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.52) by $0.49. The business had revenue of $219.51 million during the quarter. As a group, sell-side analysts anticipate that Liftoff Mobile will post 0.14 earnings per share for the current year.

Insider Activity

In other news, Director Atlantic Genpar L.P. General acquired 1,304,347 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $23.00 per share, for a total transaction of $29,999,981.00. Following the completion of the transaction, the director directly owned 25,315,646 shares in the company, valued at $582,259,858. This represents a 5.43% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Liftoff Mobile

A hedge fund recently bought a new position in Liftoff Mobile stock. WT Asset Management Ltd purchased a new position in shares of Liftoff Mobile, Inc. (NASDAQ:LFTO - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 20,000 shares of the company's stock, valued at approximately $480,000. Liftoff Mobile accounts for 0.0% of WT Asset Management Ltd's portfolio, making the stock its 25th largest holding.

About Liftoff Mobile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source