Liftoff Mobile, Inc.’s Quiet Period To End on July 14th (NASDAQ:LFTO)

Liftoff Mobile’s (NASDAQ:LFTO) quiet period is set to end on Tuesday, July 14th. Liftoff Mobile had issued 19,000,000 shares in its public offering on June 4th. The total size of the offering was $437,000,000 based on an initial share price of $23.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

LFTO has been the subject of a number of recent analyst reports. UBS Group assumed coverage on shares of Liftoff Mobile in a research report on Monday, June 29th. They issued a “buy” rating and a $38.00 price objective for the company. Zacks Research upgraded Liftoff Mobile to a “hold” rating in a research note on Tuesday, June 30th. Wells Fargo & Company initiated coverage on Liftoff Mobile in a research report on Monday, June 29th. They set an “overweight” rating and a $32.00 price target for the company. Wall Street Zen upgraded Liftoff Mobile to a “hold” rating in a report on Saturday, June 6th. Finally, Barclays initiated coverage on Liftoff Mobile in a research note on Monday, June 29th. They issued an “overweight” rating and a $34.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.17.

Liftoff Mobile Stock Performance

Shares of NASDAQ LFTO opened at $23.19 on Tuesday. Liftoff Mobile has a 1-year low of $22.75 and a 1-year high of $30.10.

Insider Activity at Liftoff Mobile

In other news, Director Atlantic Genpar L.P. General purchased 1,304,347 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $23.00 per share, for a total transaction of $29,999,981.00. Following the purchase, the director owned 25,315,646 shares of the company’s stock, valued at $582,259,858. The trade was a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.