Liftoff Mobile Delays IPO Amid Tech Stock Concerns
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Should l Buy BX?
Source: seekingalpha
- IPO Postponement: Liftoff Mobile's initial public offering, originally scheduled for Thursday, has been postponed due to a decline in tech stocks driven by concerns over artificial intelligence, indicating market apprehension.
- Funding Target: The company aimed to raise up to $762 million through the IPO by offering 25.4 million shares at an expected price range of $26 to $30 per share, reflecting its confidence in market demand.
- Underwriter Lineup: The lead underwriters for the IPO include Goldman Sachs, Jefferies, and Morgan Stanley, showcasing strong backing from the investment banking community, although market volatility may impact its success.
- Future Outlook: Despite the delay, the company indicated that the offering could be rescheduled for a later date, suggesting a continued optimistic view on market opportunities, particularly in the rapidly evolving artificial intelligence sector.
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Analyst Views on BX
Wall Street analysts forecast BX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BX is 176.60 USD with a low forecast of 166.00 USD and a high forecast of 205.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 126.830
Low
166.00
Averages
176.60
High
205.00
Current: 126.830
Low
166.00
Averages
176.60
High
205.00
About BX
Blackstone Inc. is an alternative asset manager. Its asset management includes global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds. Its Real Estate segment comprises its management of opportunistic real estate funds, Core+ real estate funds, and real estate debt strategies. Its Private Equity segment includes its management of flagship Corporate Private Equity funds, sector and geographically focused Corporate Private Equity funds, core private equity funds, an investment platform, and others. Its Credit & Insurance segment consists of Blackstone Credit & Insurance, which is organized into three overarching strategies: private corporate credit, liquid corporate credit and infrastructure and asset-based credit. Its Multi-Asset Investing segment is organized into four investment platforms: Absolute Return, Multi-Strategy, Total Portfolio Management, and Public Real Assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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