AppLovin’s (APP) “Outperform” Rating Reiterated at Macquarie

Macquarie reiterated their outperform rating on shares of AppLovin (NASDAQ:APP) in a report published on Wednesday morning, Benzinga reports. Macquarie currently has a $150.00 target price on the stock, up from their prior target price of $115.00.

A number of other brokerages also recently issued reports on APP. Citigroup boosted their price target on shares of AppLovin from $110.00 to $155.00 and gave the stock a buy rating in a research report on Thursday, September 19th. Benchmark lifted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the company a sell rating in a research note on Friday, August 23rd. BTIG Research upped their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a buy rating in a report on Friday, September 13th. UBS Group upgraded AppLovin from a neutral rating to a buy rating and increased their price target for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Bank of America increased their target price on AppLovin from $100.00 to $120.00 and gave the stock a buy rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $106.44.

AppLovin Stock Down 0.3 %

Shares of NASDAQ APP opened at $127.75 on Wednesday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin has a 1 year low of $34.45 and a 1 year high of $133.05. The company has a 50 day simple moving average of $92.41 and a 200 day simple moving average of $82.72. The firm has a market cap of $42.70 billion, a PE ratio of 76.04, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. AppLovin’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, research analysts forecast that AppLovin will post 3.46 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 775,934 shares of company stock worth $65,805,022. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of institutional investors have recently modified their holdings of APP. Precision Wealth Strategies LLC bought a new position in AppLovin in the 4th quarter worth about $324,000. Norges Bank purchased a new position in AppLovin during the fourth quarter valued at approximately $43,973,000. Franklin Resources Inc. increased its holdings in AppLovin by 154.9% during the 4th quarter. Franklin Resources Inc. now owns 235,187 shares of the company’s stock worth $9,372,000 after acquiring an additional 142,938 shares during the period. Treasurer of the State of North Carolina lifted its stake in AppLovin by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 96,140 shares of the company’s stock worth $3,831,000 after purchasing an additional 807 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in AppLovin by 104,207.7% in the 4th quarter. TFO Wealth Partners LLC now owns 13,560 shares of the company’s stock valued at $518,000 after purchasing an additional 13,547 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.