Liftoff Mobile (NASDAQ:LFTO) Stock Gets Price Target Reduction from UBS Group

Liftoff Mobile (NASDAQ:LFTO) had its price objective cut by UBS Group from $39.00 to $25.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Cannonball Research upgraded shares of Liftoff Mobile to a “hold” rating in a research note on Saturday, September 5th. Wells Fargo & Company dropped 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. BTIG Research cut their price target on shares of Liftoff Mobile from $35.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Freedom Broker raised shares of Liftoff Mobile to a “hold” rating in a research report on Thursday, September 10th. Finally, Tigress Financial boosted their price objective on shares of Liftoff Mobile from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Liftoff Mobile Stock Down 7.5%

LFTO stock opened at $14.79 on Wednesday. The firm’s 50 day simple moving average is $17.01. Liftoff Mobile has a 52-week low of $14.03 and a 52-week high of $30.10. The stock has a market capitalization of $2.50 billion and a price-to-earnings ratio of -493.00.

Liftoff Mobile (NASDAQ:LFTO) last announced its quarterly earnings data 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 company had revenue of $219.51 million for the quarter. Analysts forecast that Liftoff Mobile will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. bought a new position in Liftoff Mobile in the second quarter valued at about $14,412,000. HBK Investments L P purchased a new stake in Liftoff Mobile during the second quarter valued at approximately $6,155,000. Wellington Management Group LLP bought a new position in Liftoff Mobile in the second quarter worth approximately $4,433,000. Readystate Asset Management LP bought a new position in Liftoff Mobile in the second quarter worth approximately $1,677,000. Finally, Bank of America Corp DE bought a new position in Liftoff Mobile in the second quarter worth approximately $1,282,000.

About Liftoff Mobile

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.