AppLovin (NASDAQ:APP) Price Target Raised to $202.00

AppLovin (NASDAQ:APP) had its target price hoisted by BTIG Research from $150.00 to $202.00 in a report issued on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

APP has been the topic of a number of other reports. Jefferies Financial Group upped their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and upped their price target for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Stifel Nicolaus raised their price objective on AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company began coverage on shares of AppLovin in a research report on Monday, October 28th. They issued an “overweight” rating and a $200.00 target price on the stock. Finally, Loop Capital assumed coverage on shares of AppLovin in a research report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $136.78.

AppLovin Stock Performance

NASDAQ APP opened at $163.53 on Wednesday. AppLovin has a fifty-two week low of $35.79 and a fifty-two week high of $174.46. The firm has a market capitalization of $54.66 billion, a P/E ratio of 69.59, a price-to-earnings-growth ratio of 2.47 and a beta of 1.92. The stock’s fifty day moving average is $127.73 and its two-hundred day moving average is $96.34. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm 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 firm posted $0.22 earnings per share. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. On average, research analysts anticipate that AppLovin will post 3.47 earnings per share for the current year.

Insider Transactions at AppLovin

In related news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the transaction, the director now directly owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Eduardo Vivas sold 229,200 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AppLovin

Institutional investors and hedge funds have recently modified their holdings of the company. Lone Pine Capital LLC boosted its position in shares of AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in AppLovin by 185.0% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares in the last quarter. Fred Alger Management LLC purchased a new position in AppLovin in the second quarter valued at approximately $290,655,000. Whale Rock Capital Management LLC purchased a new position in AppLovin in the first quarter valued at approximately $195,129,000. Finally, 1832 Asset Management L.P. raised its holdings in AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Company Profile

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.