AppLovin (NASDAQ:APP) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of AppLovin (NASDAQ:APP) in a report released on Thursday morning,Benzinga reports.

Other research analysts have also issued research reports about the stock. Benchmark raised their target price on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Bank of America raised their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Wedbush upgraded AppLovin to a “strong-buy” rating in a research note on Monday. Finally, Macquarie restated an “outperform” rating and issued a $150.00 target price (up from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.31.

AppLovin Stock Up 16.0 %

Shares of APP traded up $39.43 during mid-day trading on Thursday, hitting $285.96. 11,767,422 shares of the company’s stock were exchanged, compared to its average volume of 4,245,897. The stock has a market cap of $95.58 billion, a price-to-earnings ratio of 112.00, a P/E/G ratio of 2.29 and a beta of 1.86. The firm has a fifty day moving average of $135.33 and a two-hundred day moving average of $99.54. AppLovin has a twelve month low of $35.79 and a twelve month high of $286.19. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. The business 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 firm’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, sell-side analysts forecast that AppLovin will post 3.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 610,094 shares of company stock worth $51,022,478. Company insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Institutional investors and hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in AppLovin in the 3rd quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin in the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin in the third quarter valued at about $29,000. Finally, Quest Partners LLC purchased a new position in AppLovin during the second quarter worth $33,000. Institutional investors and hedge funds 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.