AppLovin Co. (NASDAQ:APP) Receives Consensus Rating of “Moderate Buy” from Analysts

AppLovin Co. (NASDAQ:APP) has earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $103.09.

APP has been the subject of several analyst reports. Oppenheimer reiterated an “outperform” rating and set a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Bank of America increased their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Benchmark increased their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Citigroup increased their price objective on AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a report on Thursday. Finally, UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the sale, the chief financial officer now directly owns 254,458 shares in the company, valued at $20,262,490.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 775,934 shares of company stock valued at $65,805,022. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several hedge funds have recently modified their holdings of APP. WCM Investment Management LLC purchased a new stake in shares of AppLovin during the 1st quarter worth about $497,488,000. Fred Alger Management LLC purchased a new stake in shares of AppLovin during the 2nd quarter worth about $290,655,000. Whale Rock Capital Management LLC purchased a new stake in shares of AppLovin during the 1st quarter worth about $195,129,000. Jericho Capital Asset Management L.P. boosted its stake in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after acquiring an additional 2,525,240 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after acquiring an additional 1,357,400 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Up 1.7 %

AppLovin stock opened at $126.09 on Monday. The business has a fifty day moving average of $87.92 and a two-hundred day moving average of $80.41. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm has a market cap of $41.49 billion, a P/E ratio of 75.05, a P/E/G ratio of 1.41 and a beta of 1.88. AppLovin has a twelve month low of $34.45 and a twelve month high of $128.19.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned $0.22 earnings per share. AppLovin’s revenue was up 44.0% on a year-over-year basis. On average, analysts forecast that AppLovin will post 3.46 earnings per share for the current fiscal year.

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.