AppLovin Co. (NASDAQ:APP) Receives $366.29 Average PT from Analysts

Shares of AppLovin Co. (NASDAQ:APP) have been given an average recommendation of “Moderate Buy” by the nineteen analysts that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $422.18.

A number of equities analysts have weighed in on APP shares. UBS Group boosted their price target on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group boosted their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Piper Sandler boosted their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $280.00 in a report on Friday, November 8th. Finally, Macquarie upped their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th.

AppLovin Stock Up 8.2 %

NASDAQ:APP opened at $510.13 on Thursday. The firm has a market capitalization of $171.20 billion, a price-to-earnings ratio of 154.59, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. AppLovin has a twelve month low of $52.75 and a twelve month high of $525.15. The stock’s 50 day moving average price is $354.68 and its two-hundred day moving average price is $234.57. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

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

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 828,991 shares of company stock valued at $267,640,144. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently bought and sold shares of the business. JFS Wealth Advisors LLC boosted its stake in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after buying an additional 31 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after buying an additional 33 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock valued at $1,223,000 after acquiring an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC boosted its holdings in shares of AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after acquiring an additional 38 shares during the last quarter. 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.