AppLovin Co. (NASDAQ:APP) Given Consensus Recommendation of “Moderate Buy” by Analysts

AppLovin Co. (NASDAQ:APP) has been given an average rating of “Moderate Buy” by the nineteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $310.71.

APP has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “sell” rating and issued a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Bank of America increased their price objective on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler began coverage on shares of AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th.

Insider Activity

In other news, CFO Herald Y. Chen sold 400 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now directly owns 207,649 shares in the company, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. increased its position in shares of AppLovin by 43.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 6,391 shares of the company’s stock worth $841,000 after acquiring an additional 1,929 shares during the period. Franklin Resources Inc. increased its holdings in AppLovin by 37.0% during the 3rd quarter. Franklin Resources Inc. now owns 996,996 shares of the company’s stock worth $130,158,000 after purchasing an additional 269,134 shares during the period. Castellan Group bought a new stake in AppLovin during the 3rd quarter valued at $8,799,000. Optimist Retirement Group LLC purchased a new stake in shares of AppLovin in the 3rd quarter worth $284,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of AppLovin in the 3rd quarter worth $833,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Down 3.3 %

AppLovin stock opened at $335.17 on Wednesday. AppLovin has a 12-month low of $37.40 and a 12-month high of $417.64. The firm has a market capitalization of $112.48 billion, a price-to-earnings ratio of 101.57, a P/E/G ratio of 4.17 and a beta of 2.28. The firm has a 50 day moving average of $284.48 and a 200 day moving average of $163.21. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, research analysts predict that AppLovin will post 4.06 earnings per share for the current year.

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.