Benchmark Increases AppLovin (NASDAQ:APP) Price Target to $525.00

AppLovin (NASDAQ:APP) had its price target boosted by analysts at Benchmark from $375.00 to $525.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 8.15% from the stock’s current price.

A number of other research firms have also recently commented on APP. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Oppenheimer reaffirmed an “outperform” rating and set a $480.00 target price on shares of AppLovin in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday. Bank of America lifted their target price on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $417.47.

AppLovin Stock Up 27.6 %

Shares of APP stock traded up $105.13 during trading hours on Thursday, hitting $485.45. 8,761,428 shares of the company’s stock traded hands, compared to its average volume of 4,393,789. The stock’s fifty day simple moving average is $347.30 and its two-hundred day simple moving average is $224.62. AppLovin has a 12-month low of $45.59 and a 12-month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $162.91 billion, a price-to-earnings ratio of 148.00, a PEG ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. On average, analysts expect that AppLovin will post 4.09 EPS for the current year.

Insider Transactions at AppLovin

In other news, Director Craig Scott Billings sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now directly owns 2,987 shares in the company, valued at approximately $952,673.78. The trade was a 85.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Herald Y. Chen sold 400 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the transaction, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 828,991 shares of company stock valued at $267,640,144 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the fourth quarter valued at $25,000. Riverview Trust Co increased its stake in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in shares of AppLovin during the fourth quarter valued at about $28,000. Hemington Wealth Management increased its stake in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the period. Finally, Fifth Third Bancorp raised its holdings in AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 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.