Liftoff Mobile (NASDAQ:LFTO) Hits New 1-Year Low - What's Next?

Key Points

• Liftoff Mobile shares fell 7.4% to a new 52-week low of $16.14, well below the 50-day moving average of $20.74.
• Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $34.64, despite the recent sell-off.
• The company reported quarterly revenue of $219.51 million and an adjusted loss of $0.03 per share, beating the consensus loss estimate of $0.52 per share.

Shares of Liftoff Mobile, Inc. (NASDAQ:LFTO - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $16.14 and last traded at $16.35, with a volume of 1711061 shares trading hands. The stock had previously closed at $17.65.

Analysts Set New Price Targets

LFTO has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Liftoff Mobile from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of Liftoff Mobile from a "sell (e)" rating to a "sell (d)" rating in a research report on Monday, September 14th. Royal Bank Of Canada initiated coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They issued an "outperform" rating and a $35.00 price target for the company. BTIG Research restated a "buy" rating and issued a $35.00 price objective on shares of Liftoff Mobile in a research report on Thursday, August 13th. Finally, Morgan Stanley started coverage on Liftoff Mobile in a report on Monday, June 29th. They set an "equal weight" rating and a $30.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.64.

Liftoff Mobile Stock Down 7.4%

The business has a fifty day moving average price of $20.74.

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

Institutional Inflows and Outflows

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

Liftoff Mobile Company Profile

Liftoff Mobile, Inc is a mobile technology company that provides software and services designed to help app developers and advertisers acquire, engage and monetize users. Its platform uses data-driven advertising and machine-learning tools to support user acquisition, retargeting, campaign optimization and creative testing across mobile applications.

The company also serves mobile publishers by offering advertising monetization solutions, including tools for managing and optimizing in-app ad inventory.

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