AppLovin Co. (NASDAQ:APP) Receives $265.57 Average Price Target from Analysts

AppLovin Co. (NASDAQ:APP) has been assigned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $265.57.

APP has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Macquarie increased their target price on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Loop Capital increased their target price on AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Citigroup increased their price objective on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. increased their price objective on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th.

AppLovin Trading Up 2.0 %

AppLovin stock opened at $373.70 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 12 month low of $35.79 and a 12 month high of $384.50. The stock’s 50 day simple moving average is $210.94 and its two-hundred day simple moving average is $130.10. The firm has a market cap of $125.41 billion, a PE ratio of 112.99, a P/E/G ratio of 4.20 and a beta of 2.28.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue was up 38.6% on a year-over-year basis. Analysts anticipate that AppLovin will post 4.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 21,101 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $332.67, for a total value of $7,019,669.67. Following the sale, the chief financial officer now directly owns 213,336 shares of the company’s stock, valued at $70,970,487.12. The trade was a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 914,895 shares of company stock valued at $253,462,174 in the last three months. 14.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in AppLovin during the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter valued at about $27,000. DT Investment Partners LLC purchased a new position in shares of AppLovin in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter valued at about $29,000. Finally, HM Payson & Co. boosted its stake in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 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.