AppLovin Co. (NASDAQ:APP) Receives Consensus Rating of “Moderate Buy” from Brokerages

AppLovin Co. (NASDAQ:APPGet Free Report) has received a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $194.31.

Several equities research analysts have issued reports on the company. Oppenheimer increased their price target on AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wedbush reissued an “outperform” rating and set a $270.00 target price (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Jefferies Financial Group increased their price objective on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, BTIG Research boosted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Get Our Latest Stock Report on APP

Insider Transactions at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction 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 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 legal filing with the SEC, which is available through this link. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. 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 is available through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,172 shares of company stock worth $40,723,512 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of AppLovin by 9,470.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after acquiring an additional 248,022 shares during the period. WCM Investment Management LLC lifted its holdings in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Acadian Asset Management LLC boosted its stake in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after purchasing an additional 15,590 shares during the period. Janney Montgomery Scott LLC grew its holdings in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after buying an additional 10,099 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE bought a new position in AppLovin during the 3rd quarter worth $7,086,000. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $286.43 on Tuesday. The firm’s 50 day simple moving average is $143.14 and its 200 day simple moving average is $103.05. AppLovin has a fifty-two week low of $35.79 and a fifty-two week high of $292.86. The company has a market capitalization of $95.74 billion, a price-to-earnings ratio of 86.80, a P/E/G ratio of 4.18 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 2.28.

AppLovin (NASDAQ:APPGet Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, sell-side analysts forecast that AppLovin will post 3.98 earnings per share for the current year.

AppLovin Company Profile

(Get Free Report

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.

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Analyst Recommendations for AppLovin (NASDAQ:APP)

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