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

Key Points

• Liftoff Mobile shares fell to a new 52-week low of $15.02, well below their 50-day moving average of $19.48.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $34.64, despite some recent upgrades only to “Hold” and one “Sell” rating.
• The company reported a quarterly loss of $0.03 per share but beat expectations by $0.49, generating $219.51 million in revenue; several institutional investors also established new positions in the stock.

Liftoff Mobile, Inc. (NASDAQ:LFTO - Get Free Report) reached a new 52-week low during trading on Monday. The company traded as low as $15.02 and last traded at $15.14, with a volume of 20247 shares changing hands. The stock had previously closed at $15.15.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of Liftoff Mobile to a "hold" rating in a research report on Tuesday, June 30th. William Blair assumed coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They set an "outperform" rating for the company. UBS Group increased their price objective on shares of Liftoff Mobile from $38.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Barclays started coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued an "overweight" rating and a $34.00 price objective for the company. Finally, Cannonball Research upgraded shares of Liftoff Mobile to a "hold" rating in a report on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Liftoff Mobile presently has an average rating of "Moderate Buy" and an average target price of $34.64.

Liftoff Mobile Price Performance

The firm's 50 day moving average is $19.48.

Liftoff Mobile (NASDAQ:LFTO - Get Free Report) last released its 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. Equities analysts predict that Liftoff Mobile, Inc. will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LFTO. HBK Investments L P bought a new stake in shares of Liftoff Mobile in the 2nd quarter worth about $6,155,000. Parkside Financial Bank & Trust purchased a new position in shares of Liftoff Mobile during the 2nd quarter worth about $30,000. Readystate Asset Management LP bought a new position in Liftoff Mobile during the 2nd quarter valued at about $1,677,000. Alyeska Investment Group L.P. bought a new position in Liftoff Mobile during the 2nd quarter valued at about $14,412,000. Finally, Wellington Management Group LLP purchased a new stake in Liftoff Mobile in the 2nd quarter worth about $4,433,000.

Liftoff Mobile Company Profile

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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