AppLovin (NASDAQ:APP) PT Raised to $185.00 at Stifel Nicolaus

AppLovin (NASDAQ:APP) had its target price lifted by Stifel Nicolaus from $100.00 to $185.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 14.94% from the stock’s current price.

Several other equities analysts have also recently weighed in on APP. Wedbush lowered their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Bank of America boosted their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group upped their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Macquarie reiterated an “outperform” rating and set a $150.00 price target (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Finally, Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $129.58.

AppLovin Stock Performance

APP stock traded up $2.00 during mid-day trading on Wednesday, reaching $160.95. The company had a trading volume of 2,003,099 shares, compared to its average volume of 4,172,368. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a market capitalization of $52.95 billion, a P/E ratio of 95.80, a P/E/G ratio of 2.07 and a beta of 1.92. AppLovin has a one year low of $34.45 and a one year high of $165.38. The stock’s 50-day simple moving average is $115.25 and its two-hundred day simple moving average is $91.60.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business earned $0.22 earnings per share. The company’s revenue was up 44.0% on a year-over-year basis. Research analysts anticipate that AppLovin will post 3.46 EPS for the current year.

Insider Activity

In related news, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction 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 transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock valued at $51,022,478 in the last ninety days. 14.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppLovin

Large investors have recently added to or reduced their stakes in the business. DT Investment Partners LLC bought a new stake in AppLovin during the third quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin in the third quarter worth about $29,000. ORG Wealth Partners LLC purchased a new position in shares of AppLovin in the third quarter worth about $42,000. Quest Partners LLC purchased a new position in shares of AppLovin in the second quarter worth about $33,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of AppLovin in the second quarter worth about $34,000. 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.