Liftoff Mobile (NASDAQ:LFTO) Reaches New 12-Month Low - What's Next?

Key Points

• Liftoff Mobile shares fell to a new 52-week low of $19.00, below the $23.93 50-day moving average, despite trading only 0.2% lower in the latest session.
• Analysts remain broadly optimistic, with a “Moderate Buy” consensus rating and an average price target of $35.69; several firms recently initiated or reiterated Buy-equivalent ratings.
• The company reported quarterly EPS of -$0.03, beating expectations of -$0.52, on revenue of $219.51 million. Director Atlantic Genpar also purchased roughly $30 million of shares, increasing its position by 5.43%.

Liftoff Mobile, Inc. (NASDAQ:LFTO - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $19.00 and last traded at $19.04, with a volume of 90120 shares traded. The stock had previously closed at $19.66.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LFTO shares. William Blair assumed coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They issued an "outperform" rating on the stock. Royal Bank Of Canada initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set an "outperform" rating and a $35.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Liftoff Mobile from $32.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of Liftoff Mobile from a "hold" rating to a "buy" rating in a report on Saturday. Finally, BTIG Research reiterated a "buy" rating and issued a $35.00 price target on shares of Liftoff Mobile in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Liftoff Mobile has an average rating of "Moderate Buy" and an average price target of $35.69.

Liftoff Mobile Stock Down 0.2%

The business has a 50-day moving average price of $23.93.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) last released its earnings results 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 firm had revenue of $219.51 million during the quarter. As a group, analysts expect that Liftoff Mobile, Inc. will post 0.7 earnings per share for the current year.

Insider Activity at Liftoff Mobile

In other Liftoff Mobile news, Director Atlantic Genpar L.P. General bought 1,304,347 shares of Liftoff Mobile stock in a transaction that occurred on Friday, June 5th. The shares were purchased 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 owned 25,315,646 shares of the company's stock, valued at $582,259,858. This represents a 5.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of Liftoff Mobile

Institutional investors have recently modified their holdings of the company. WT Asset Management Ltd acquired a new stake in Liftoff Mobile in the second quarter valued at approximately $480,000. Legal & General Group Plc acquired a new stake in Liftoff Mobile during the 2nd quarter valued at $486,000. Finally, Bank of America Corp DE acquired a new stake in Liftoff Mobile during the 2nd quarter valued at $1,282,000.

Liftoff Mobile Company 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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