BTIG Research Forecasts Strong Price Appreciation for AppLovin (NASDAQ:APP) Stock

AppLovin (NASDAQ:APP) had its target price raised by stock analysts at BTIG Research from $202.00 to $291.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 18.94% from the stock’s previous close.

APP has been the subject of a number of other reports. Oppenheimer increased their price objective on AppLovin from $105.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and increased their target price for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Finally, Wells Fargo & Company started coverage on AppLovin in a research report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $162.01.

AppLovin Trading Up 45.2 %

NASDAQ APP traded up $76.11 during trading hours on Thursday, hitting $244.66. 14,946,233 shares of the company’s stock were exchanged, compared to its average volume of 4,194,193. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $81.78 billion, a P/E ratio of 103.71, a price-to-earnings-growth ratio of 2.36 and a beta of 1.86. The business’s 50 day moving average is $132.23 and its 200-day moving average is $98.51. AppLovin has a 12-month low of $35.79 and a 12-month high of $257.43.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 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 the consensus estimate of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same period last year, the business posted $0.22 EPS. As a group, analysts anticipate that AppLovin will post 3.47 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This trade 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 worth $51,022,478 over the last three months. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the third quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new position in AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter valued at about $29,000. HM Payson & Co. lifted its holdings in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of AppLovin during the third quarter valued at $42,000. 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.