Liftoff Mobile (NASDAQ:LFTO) Hits New 1-Year Low - Should You Sell?

Key Points

• Liftoff Mobile shares fell 11.3%, hitting a new 52-week low of $14.80 and closing near $14.86, with a market capitalization of approximately $2.4 billion.
• Despite the selloff, analysts maintain a generally positive view: the stock has a consensus “Moderate Buy” rating and an average price target of $29.25, although several firms recently reduced their targets.
• Liftoff exceeded quarterly earnings expectations, reporting a loss of $0.03 per share versus the expected $0.52 loss on $219.51 million in revenue. Several institutional investors also initiated new positions during the second quarter.

Liftoff Mobile, Inc. (NASDAQ:LFTO - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday. The company traded as low as $14.80 and last traded at $14.86, with a volume of 86,097 shares traded. The stock had previously closed at $15.99.

Analysts Set New Price Targets

LFTO has been the topic of several recent research reports. Wall Street Zen raised Liftoff Mobile from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. UBS Group decreased their price target on Liftoff Mobile from $39.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday. Raymond James Financial reissued an "outperform" rating and issued a $33.00 price target on shares of Liftoff Mobile in a research report on Thursday, August 13th. Wells Fargo & Company lowered their target price on shares of Liftoff Mobile from $34.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Wedbush began coverage on Liftoff Mobile in a research note on Tuesday. They issued an "outperform" rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $29.25.

Liftoff Mobile Stock Down 11.3%

The stock has a market capitalization of $2.40 billion and a P/E ratio of -473.00. The business has a 50 day simple moving average of $17.08.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.49. The business had revenue of $219.51 million during the quarter. As a group, sell-side analysts predict that Liftoff Mobile, Inc. will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Liftoff Mobile

Institutional investors and hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust purchased a new stake in shares of Liftoff Mobile during the second quarter valued at $30,000. Legal & General Group Plc acquired a new position in Liftoff Mobile during the second quarter valued at $486,000. WT Asset Management Ltd purchased a new stake in Liftoff Mobile during the second quarter worth $480,000. Bank of America Corp DE purchased a new position in Liftoff Mobile during the second quarter valued at $1,282,000. Finally, Readystate Asset Management LP purchased a new stake in Liftoff Mobile during the 2nd quarter valued at about $1,677,000.

Liftoff Mobile Company Profile

Liftoff Mobile, Inc is a global mobile app growth and monetization company that helps advertisers acquire, engage and retain users. Its technology uses machine learning, first-party data and automated optimization to support performance marketing campaigns across mobile applications and digital channels.

The company provides solutions for app advertisers, including user acquisition, retargeting, creative production and campaign measurement. Liftoff also serves publishers and app developers through advertising monetization products, helping them sell in-app inventory and generate revenue from their audiences.

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