AppLovin (NASDAQ:APP) Earns Outperform Rating from Wedbush

AppLovin (NASDAQ:APP)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Monday, Benzinga reports. They presently have a $100.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 27.24% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Daiwa Capital Markets started coverage on shares of AppLovin in a report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and set a $97.00 price target on shares of AppLovin in a research report on Thursday, June 13th. Stifel Nicolaus boosted their price objective on AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, May 9th. Finally, Jefferies Financial Group boosted their price target on shares of AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.72.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $1.06 during mid-day trading on Monday, hitting $78.59. The company had a trading volume of 167,445 shares, compared to its average volume of 4,087,653. The stock’s 50-day moving average price is $81.86 and its 200-day moving average price is $69.34. The company has a market capitalization of $25.86 billion, a price-to-earnings ratio of 46.78, a P/E/G ratio of 1.31 and a beta of 1.86. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. AppLovin has a 1 year low of $28.99 and a 1 year high of $91.91.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $973.70 million. During the same period last year, the business earned ($0.01) earnings per share. AppLovin’s revenue was up 47.9% compared to the same quarter last year. On average, sell-side analysts forecast that AppLovin will post 2.96 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total value of $235,159.30. Following the transaction, the insider now owns 448,490 shares in the company, valued at $36,493,631.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AppLovin news, CMO Katie Kihorany Jansen sold 147,984 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $82.29, for a total transaction of $12,177,603.36. Following the transaction, the chief marketing officer now directly owns 1,264,284 shares of the company’s stock, valued at approximately $104,037,930.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the sale, the insider now directly owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,857,726 shares of company stock worth $1,489,251,374. 14.69% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FinTrust Capital Advisors LLC bought a new position in shares of AppLovin in the 4th quarter worth approximately $32,000. Covestor Ltd grew its stake in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in AppLovin in the second quarter worth $37,000. Atlas Capital Advisors LLC purchased a new position in AppLovin during the first quarter valued at $38,000. Finally, Summit Securities Group LLC bought a new stake in shares of AppLovin during the 2nd quarter valued at $42,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.