Readystate Asset Management LP Buys Shares of 69,834 Liftoff Mobile, Inc. $LFTO

Key Points

• Readystate Asset Management initiated a position in Liftoff Mobile by purchasing 69,834 shares worth approximately $1.68 million during the second quarter. Other major investors, including Alyeska Investment Group and Wellington Management, also established new stakes.
• Analyst sentiment is broadly positive: Liftoff Mobile has a consensus rating of “Moderate Buy” and an average price target of $35.85, with several firms recently raising their targets.
• Liftoff Mobile reported quarterly revenue of $219.51 million and an EPS loss of $0.03, beating the consensus estimate of a $0.52 loss. The stock opened at $18.74, near its 52-week low of $17.90.

Readystate Asset Management LP bought a new position in Liftoff Mobile, Inc. (NASDAQ:LFTO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 69,834 shares of the company's stock, valued at approximately $1,677,000.

A number of other large investors have also made changes to their positions in LFTO. WT Asset Management Ltd bought a new position in shares of Liftoff Mobile in the 2nd quarter worth approximately $480,000. Legal & General Group Plc purchased a new position in shares of Liftoff Mobile in the second quarter worth approximately $486,000. Bank of America Corp DE bought a new stake in Liftoff Mobile during the second quarter valued at approximately $1,282,000. Wellington Management Group LLP bought a new stake in Liftoff Mobile during the second quarter valued at approximately $4,433,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Liftoff Mobile during the second quarter valued at approximately $14,412,000.

Analyst Ratings Changes

LFTO has been the topic of several recent research reports. UBS Group increased their price target 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. Tigress Financial upped their price objective on Liftoff Mobile from $39.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, September 1st. Raymond James Financial reaffirmed an "outperform" rating and issued a $33.00 target price on shares of Liftoff Mobile in a report on Thursday, August 13th. Zacks Research upgraded Liftoff Mobile to a "hold" rating in a research report on Tuesday, June 30th. Finally, BTIG Research reissued a "buy" rating and set a $35.00 price target on shares of Liftoff Mobile in a report on Thursday, August 13th. One equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.85.

Liftoff Mobile Price Performance

LFTO stock opened at $18.74 on Tuesday. Liftoff Mobile, Inc. has a 1-year low of $17.90 and a 1-year high of $30.10. The business has a 50 day simple moving average of $21.97.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.49. The company had revenue of $219.51 million for the quarter. On average, sell-side analysts expect that Liftoff Mobile, Inc. will post 0.7 EPS for the current fiscal year.

Liftoff Mobile Profile

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

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