Liftoff Mobile (NASDAQ:LFTO) Trading 10.1% Higher – Here’s What Happened

Liftoff Mobile, Inc. (NASDAQ:LFTO)’s stock price was up 10.1% on Friday . The company traded as high as $22.40 and last traded at $22.08. Approximately 876,734 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 892,943 shares. The stock had previously closed at $20.06.

Analysts Set New Price Targets

A number of analysts recently issued reports on LFTO shares. UBS Group raised their price objective on shares of Liftoff Mobile from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set a “buy” rating and a $37.00 price target for the company. Tigress Financial began coverage on shares of Liftoff Mobile in a report on Monday, July 13th. They issued a “buy” rating and a $39.00 price target on the stock. Barclays assumed coverage on Liftoff Mobile in a research note on Monday, June 29th. They issued an “overweight” rating and a $34.00 price objective on the stock. Finally, 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 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.69.

Liftoff Mobile Trading Up 7.5%

The firm’s 50-day moving average is $24.31.

Liftoff Mobile (NASDAQ:LFTO) last issued its earnings results 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 business had revenue of $219.51 million for the quarter. On average, equities analysts anticipate that Liftoff Mobile, Inc. will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Atlantic Genpar L.P. General purchased 1,304,347 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $23.00 per share, for a total transaction of $29,999,981.00. Following the completion of the transaction, the director directly owned 25,315,646 shares in the company, valued at approximately $582,259,858. This represents a 5.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On Liftoff Mobile

A hedge fund recently bought a new stake in Liftoff Mobile stock. WT Asset Management Ltd bought a new position in shares of Liftoff Mobile, Inc. (NASDAQ:LFTO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $480,000. Liftoff Mobile accounts for about 0.0% of WT Asset Management Ltd’s portfolio, making the stock its 25th largest position.

About Liftoff Mobile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.