AppLovin (NASDAQ:APP) Given New $200.00 Price Target at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP) had its price target increased by JPMorgan Chase & Co. from $160.00 to $200.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Benchmark reiterated a “sell” rating and set a $66.00 price target on shares of AppLovin in a research report on Thursday. Jefferies Financial Group lifted their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Oppenheimer lifted their target price on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus increased their price target on shares of AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.31.

AppLovin Stock Performance

AppLovin stock traded up $39.43 during trading on Thursday, hitting $285.96. The stock had a trading volume of 11,767,422 shares, compared to its average volume of 4,245,897. The stock’s 50 day moving average is $135.33 and its two-hundred day moving average is $99.54. AppLovin has a 1 year low of $35.79 and a 1 year high of $286.19. The stock has a market cap of $95.58 billion, a price-to-earnings ratio of 112.00, a price-to-earnings-growth ratio of 2.29 and a beta of 1.86. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company earned $0.22 EPS. The firm’s quarterly revenue was up 44.0% compared to the same quarter last year. As a group, analysts predict that AppLovin will post 3.48 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction 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 completion of the sale, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 610,094 shares of company stock worth $51,022,478. Company insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fred Alger Management LLC bought a new stake in AppLovin during the 2nd quarter valued at $290,655,000. Whale Rock Capital Management LLC bought a new position in AppLovin during the 1st quarter worth about $195,129,000. Jericho Capital Asset Management L.P. increased its position in AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after purchasing an additional 1,357,400 shares in the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. 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.