AppLovin (NASDAQ:APP) Coverage Initiated at Loop Capital

Loop Capital started coverage on shares of AppLovin (NASDAQ:APP) in a research report released on Tuesday, Marketbeat reports. The firm issued a buy rating and a $181.00 target price on the stock.

APP has been the topic of a number of other reports. 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 note on Thursday, September 19th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Oppenheimer reissued an “outperform” rating and set a $105.00 price objective (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Finally, Bank of America boosted their price objective on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.58.

AppLovin Stock Up 1.7 %

Shares of NASDAQ:APP opened at $161.63 on Tuesday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market capitalization of $53.18 billion, a PE ratio of 96.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The firm’s 50-day moving average is $119.72 and its two-hundred day moving average is $93.11. AppLovin has a 1 year low of $34.45 and a 1 year high of $165.38.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. Analysts predict that AppLovin will post 3.46 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’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 completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’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 completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock valued at $51,022,478 over the last three months. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APP. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the third quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin during the third quarter worth approximately $29,000. Quest Partners LLC purchased a new stake in shares of AppLovin during the second quarter worth approximately $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin during the second quarter worth approximately $34,000. Finally, Covestor Ltd raised its stake in shares of AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the last quarter. Hedge funds and other 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.