Jefferies Financial Group Boosts AppLovin (NASDAQ:APP) Price Target to $108.00

AppLovin (NASDAQ:APP) had its price objective lifted by Jefferies Financial Group from $105.00 to $108.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on APP. Benchmark upped their target price on AppLovin from $48.00 to $66.00 and gave the company a sell rating in a research note on Friday, August 23rd. Oppenheimer reaffirmed an outperform rating and set a $105.00 price objective (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Finally, Wedbush decreased their target price on shares of AppLovin from $100.00 to $90.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $87.94.

AppLovin Stock Performance

NASDAQ APP opened at $105.61 on Tuesday. The company’s fifty day moving average is $83.57 and its two-hundred day moving average is $77.74. The firm has a market capitalization of $34.75 billion, a price-to-earnings ratio of 62.86, a P/E/G ratio of 1.22 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin has a 52-week low of $34.45 and a 52-week high of $106.45.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up 44.0% compared to the same quarter last year. Equities research analysts forecast that AppLovin will post 3.48 EPS for the current year.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the completion of the sale, the insider now directly owns 390,615 shares in the company, valued at $33,225,711.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Victoria Valenzuela sold 47,001 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the sale, the insider now directly owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold a total of 775,934 shares of company stock worth $65,805,022 in the last three months. Insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Several large investors have recently made changes to their positions in the company. FinTrust Capital Advisors LLC acquired a new position in AppLovin in the fourth quarter valued at approximately $32,000. Quest Partners LLC acquired a new stake in shares of AppLovin during the second quarter worth $33,000. Oliver Lagore Vanvalin Investment Group bought a new stake in AppLovin in the second quarter valued at about $34,000. Covestor Ltd increased its holdings in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in AppLovin during the second quarter worth about $37,000. Institutional investors and hedge funds 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.