AppLovin (NASDAQ:APP) Earns “Outperform” Rating from Wedbush

AppLovin (NASDAQ:APP)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a report issued on Thursday, RTT News reports. They presently have a $270.00 target price on the stock, up from their previous target price of $170.00. Wedbush’s price target would indicate a potential upside of 9.09% from the company’s previous close. Wedbush also issued estimates for AppLovin’s Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $3.44 EPS, Q1 2025 earnings at $0.98 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $1.00 EPS, Q4 2025 earnings at $1.03 EPS, FY2025 earnings at $3.98 EPS, Q1 2026 earnings at $1.05 EPS, Q2 2026 earnings at $1.06 EPS, Q3 2026 earnings at $1.08 EPS and FY2026 earnings at $4.31 EPS.

APP has been the subject of several other research reports. Stifel Nicolaus lifted their price objective on shares of AppLovin from $100.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital began coverage on shares of AppLovin in a report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price objective on the stock. Benchmark restated a “sell” rating and issued a $66.00 target price on shares of AppLovin in a research note on Thursday. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Finally, Wells Fargo & Company began coverage on AppLovin in a research note on Monday, October 28th. They issued an “overweight” rating and a $200.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

AppLovin Trading Up 46.8 %

APP stock traded up $78.96 during midday trading on Thursday, hitting $247.51. The stock had a trading volume of 9,183,180 shares, compared to its average volume of 4,167,512. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The business has a fifty day moving average price of $132.23 and a two-hundred day moving average price of $98.51. AppLovin has a 1-year low of $35.79 and a 1-year high of $257.43. The firm has a market cap of $82.73 billion, a P/E ratio of 105.32, a price-to-earnings-growth ratio of 2.36 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm posted $0.22 earnings per share. The firm’s revenue was up 44.0% on a year-over-year basis. On average, sell-side analysts predict that AppLovin will post 3.47 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade 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 is available at the SEC website. Also, CTO Vasily Shikin sold 5,500 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $86.04, for a total value of $473,220.00. Following the sale, the chief technology officer now owns 4,536,447 shares in the company, valued at approximately $390,315,899.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppLovin

Hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter valued at $25,000. DT Investment Partners LLC bought a new position in AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin in the 3rd quarter worth approximately $29,000. HM Payson & Co. lifted its position in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of AppLovin during the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.