AppLovin (NASDAQ:APP) Upgraded at Daiwa America

Daiwa America upgraded shares of AppLovin (NASDAQ:APP) from a hold rating to a strong-buy rating in a report issued on Friday,Zacks.com reports.

Several other research firms also recently issued reports on APP. Wedbush reiterated an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research note on Thursday. BTIG Research boosted their price objective on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer lifted their price target on AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday. Finally, Wells Fargo & Company started coverage on shares of AppLovin in a report on Monday, October 28th. They set an “overweight” rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.31.

AppLovin Stock Up 17.6 %

Shares of AppLovin stock traded up $43.48 during midday trading on Friday, hitting $290.01. The company’s stock had a trading volume of 15,031,876 shares, compared to its average volume of 4,260,833. AppLovin has a 1-year low of $35.79 and a 1-year high of $292.86. 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 capitalization of $96.94 billion, a P/E ratio of 123.41, a PEG ratio of 2.29 and a beta of 1.86. The stock has a 50-day simple moving average of $139.27 and a 200-day simple moving average of $101.08.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. As a group, sell-side analysts expect that AppLovin will post 3.48 earnings per share for the current year.

Insider Activity

In other news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock valued at $51,022,478 over the last three months. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

Hedge funds have recently modified their holdings of the company. HM Payson & Co. raised its holdings in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC raised its holdings in shares of AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after acquiring an additional 104 shares during the period. Ashton Thomas Securities LLC raised its holdings in shares of AppLovin by 2.6% during the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after acquiring an additional 121 shares during the period. GAMMA Investing LLC lifted its position in AppLovin by 8.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares in the last quarter. Finally, American Trust boosted its stake in AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after purchasing an additional 150 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.