AppLovin (NASDAQ:APP) Upgraded to “Outperform” at Daiwa Capital Markets

AppLovin (NASDAQ:APP) was upgraded by Daiwa Capital Markets from a “neutral” rating to an “outperform” rating in a research note issued on Friday,Briefing.com Automated Import reports. The firm presently has a $280.00 price objective on the stock, up from their previous price objective of $80.00. Daiwa Capital Markets’ price target suggests a potential upside of 13.58% from the company’s current price.

Other research analysts also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday. Wedbush reiterated an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research report on Thursday. Wells Fargo & Company began coverage on AppLovin in a research report on Monday, October 28th. They set an “overweight” rating and a $200.00 price target for the company. Stifel Nicolaus boosted their price target on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group boosted their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.31.

AppLovin Price Performance

Shares of NASDAQ APP opened at $246.53 on Friday. AppLovin has a twelve month low of $35.79 and a twelve month high of $257.43. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market capitalization of $82.40 billion, a price-to-earnings ratio of 104.91, a price-to-earnings-growth ratio of 2.29 and a beta of 1.86. The business has a 50 day simple moving average of $135.33 and a 200-day simple moving average of $99.54.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business’s quarterly revenue was up 44.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS. As a group, equities research analysts expect that AppLovin will post 3.48 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the sale, the chief financial officer now owns 254,458 shares in the company, valued at approximately $20,262,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 610,094 shares of company stock valued at $51,022,478. Company insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC acquired a new position in shares of AppLovin in the 2nd quarter worth approximately $33,000. 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.