Liftoff Mobile, Inc. (NASDAQ:LFTO) Stock Has Average Price Target of $34.64 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Liftoff Mobile, with 12 buy ratings, one strong buy, six holds and one sell. The average 12-month price target is $34.64, more than double the stock’s $15.49 opening price.
• Liftoff Mobile shares have fallen near their 12-month low of $15.02, compared with a high of $30.10, and carry a market capitalization of approximately $2.62 billion.
• The company’s latest quarterly results beat expectations, reporting a loss of $0.03 per share versus the consensus estimate of a $0.52 loss, alongside $219.51 million in revenue. Several institutional investors also initiated positions during the second quarter.

Shares of Liftoff Mobile, Inc. (NASDAQ:LFTO - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $34.64.

A number of research analysts have recently issued reports on LFTO shares. Royal Bank Of Canada began coverage on Liftoff Mobile in a report on Monday, June 29th. They set an "outperform" rating and a $35.00 price target on the stock. Jefferies Financial Group started coverage on Liftoff Mobile in a report on Monday, June 29th. They issued a "buy" rating and a $34.00 price objective for the company. Weiss Ratings raised Liftoff Mobile from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, September 28th. BTIG Research reaffirmed a "buy" rating and set a $35.00 price target on shares of Liftoff Mobile in a report on Thursday, August 13th. Finally, Barclays assumed coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued an "overweight" rating and a $34.00 price target for the company.

Institutional Investors Weigh In On Liftoff Mobile

A number of hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust purchased a new stake in Liftoff Mobile during the second quarter valued at $30,000. WT Asset Management Ltd bought a new position in Liftoff Mobile in the second quarter valued at about $480,000. Legal & General Group Plc purchased a new position in Liftoff Mobile in the second quarter worth about $486,000. Bank of America Corp DE purchased a new position in Liftoff Mobile in the second quarter worth about $1,282,000. Finally, Readystate Asset Management LP bought a new stake in shares of Liftoff Mobile during the 2nd quarter valued at about $1,677,000.

Liftoff Mobile Price Performance

Liftoff Mobile stock opened at $15.49 on Wednesday. The stock has a market cap of $2.62 billion and a P/E ratio of -516.33. The stock has a 50 day moving average of $19.19. Liftoff Mobile has a twelve month low of $15.02 and a twelve month 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, beating the consensus estimate of ($0.52) by $0.49. The company had revenue of $219.51 million for the quarter. Research analysts predict that Liftoff Mobile will post 0.74 earnings per share for the current fiscal year.

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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