Liftoff Mobile (NASDAQ:LFTO) Stock Falls 5.2% on Analyst Downgrade

Key Points

• Liftoff Mobile shares fell 5.2% to $15.31 after BTIG Research cut its price target from $35 to $27, while maintaining a Buy rating.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $33.60, despite targets ranging from $19 to $40.
• The company reported quarterly revenue of $219.51 million and an adjusted EPS loss of $0.03, beating the consensus estimate of a $0.52 loss per share.

Liftoff Mobile, Inc. (NASDAQ:LFTO - Get Free Report)'s share price was down 5.2% during trading on Friday after BTIG Research lowered their price target on the stock from $35.00 to $27.00. BTIG Research currently has a buy rating on the stock. Liftoff Mobile traded as low as $15.31 and last traded at $15.31. 65,501 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 875,853 shares. The stock had previously closed at $16.15.

A number of other research firms have also recently issued reports on LFTO. Piper Sandler initiated coverage on shares of Liftoff Mobile in a report on Tuesday, September 22nd. They issued a "neutral" rating and a $19.00 price target for the company. Freedom Broker upgraded shares of Liftoff Mobile to a "hold" rating in a research report on Thursday, September 10th. Jefferies Financial Group assumed coverage on Liftoff Mobile in a research report on Monday, June 29th. They issued a "buy" rating and a $34.00 price objective for the company. Barclays started coverage on Liftoff Mobile in a report on Monday, June 29th. They issued an "overweight" rating and a $34.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set a "buy" rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Liftoff Mobile currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.60.

Institutional Trading of Liftoff Mobile

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

Liftoff Mobile Trading Down 5.2%

The company has a market cap of $2.59 billion and a price-to-earnings ratio of -510.33. The company's 50 day moving average price is $18.95.

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, 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 forecast that Liftoff Mobile, Inc. will post 0.74 earnings per share for the current year.

About Liftoff Mobile

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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