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

Shares of AppLovin Co. (NASDAQ:APP) have been given a consensus recommendation of “Moderate Buy” by the twenty brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $438.28.

Several research analysts have weighed in on the stock. Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. Benchmark lifted their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Bank of America lifted their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Citigroup lifted their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Macquarie lifted their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th.

AppLovin Price Performance

APP opened at $292.89 on Monday. The company has a fifty day simple moving average of $357.00 and a 200 day simple moving average of $269.20. The firm has a market cap of $99.57 billion, a price-to-earnings ratio of 64.51, a PEG ratio of 3.02 and a beta of 2.33. AppLovin has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities research analysts expect that AppLovin will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,871 shares of company stock worth $111,401,882. 14.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

Several hedge funds have recently made changes to their positions in APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the fourth quarter worth approximately $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin in the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the third quarter worth approximately $27,000. Finally, Riverview Trust Co increased its position in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after acquiring an additional 82 shares in the last quarter. 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.