Jefferies Financial Group Issues Positive Forecast for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP) had its price objective raised by equities researchers at Jefferies Financial Group from $270.00 to $400.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 25.16% from the company’s current price.

Other research analysts also recently issued reports about the stock. Piper Sandler began coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Bank of America boosted their price target on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $265.57.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $319.59 on Tuesday. The firm has a market capitalization of $107.25 billion, a price-to-earnings ratio of 96.85, a PEG ratio of 4.11 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin has a one year low of $35.79 and a one year high of $344.77. The company’s fifty day moving average price is $185.37 and its 200-day moving average price is $119.37.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s revenue was up 38.6% compared to the same quarter last year. On average, equities research analysts anticipate that AppLovin will post 4.05 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, CFO Matthew Stumpf sold 21,101 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the sale, the chief financial officer now owns 213,336 shares of the company’s stock, valued at $70,970,487.12. This trade represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Scott Billings sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now directly owns 2,987 shares in the company, valued at $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock valued at $233,072,408 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of AppLovin by 122.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 536,937 shares of the company’s stock valued at $37,168,000 after purchasing an additional 295,251 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in AppLovin during the 1st quarter valued at $220,000. B. Riley Wealth Advisors Inc. bought a new position in shares of AppLovin during the 1st quarter valued at $474,000. California State Teachers Retirement System boosted its stake in shares of AppLovin by 47.7% in the 1st quarter. California State Teachers Retirement System now owns 241,197 shares of the company’s stock worth $16,696,000 after buying an additional 77,914 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of AppLovin in the first quarter worth $236,000. 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.