AppLovin (NASDAQ:APP) Rating Increased to Strong-Buy at Wedbush

Wedbush upgraded shares of AppLovin (NASDAQ:APP) to a strong-buy rating in a research report report published on Monday morning, Zacks.com reports.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus upped their target price on AppLovin from $100.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Macquarie reiterated an “outperform” rating and issued a $150.00 target price (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.78.

AppLovin Trading Down 2.7 %

Shares of NASDAQ APP opened at $159.11 on Monday. The company has a market cap of $53.18 billion, a price-to-earnings ratio of 67.71, a PEG ratio of 2.44 and a beta of 1.86. AppLovin has a fifty-two week low of $35.79 and a fifty-two week high of $174.46. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The business’s 50 day moving average price is $129.12 and its 200-day moving average price is $97.33.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $0.22 EPS. The company’s revenue was up 44.0% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin will post 3.47 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock worth $51,022,478 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. HM Payson & Co. raised its position in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Ashton Thomas Securities LLC lifted its stake in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after purchasing an additional 121 shares in the last quarter. GAMMA Investing LLC increased its position in shares of AppLovin by 8.2% in the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock worth $217,000 after acquiring an additional 126 shares in the last quarter. American Trust boosted its position in shares of AppLovin by 2.8% in the first quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after buying an additional 150 shares during the period. Finally, Highland Capital Management LLC lifted its position in shares of AppLovin by 0.5% during the first quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock worth $1,946,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors 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.