AppLovin Co. (NASDAQ:APP) Receives $91.78 Average PT from Analysts

Shares of AppLovin Co. (NASDAQ:APP) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $103.09.

A number of research analysts have recently commented on the company. Wedbush cut their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup increased their price target on shares of AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a report on Thursday. Benchmark boosted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Bank of America upped their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Oppenheimer reissued an “outperform” rating and set a $105.00 target price (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th.

Insider Buying and Selling at AppLovin

In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 254,458 shares in the company, valued at $20,262,490.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 775,934 shares of company stock worth $65,805,022. 14.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

Several hedge funds have recently added to or reduced their stakes in APP. Precision Wealth Strategies LLC acquired a new position in AppLovin during the fourth quarter valued at approximately $324,000. Charles Schwab Investment Management Inc. increased its position in shares of AppLovin by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,695 shares of the company’s stock valued at $40,715,000 after buying an additional 31,773 shares in the last quarter. QRG Capital Management Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at $290,000. Massachusetts Financial Services Co. MA acquired a new stake in AppLovin during the 4th quarter worth $3,947,000. Finally, Norges Bank bought a new position in AppLovin during the fourth quarter worth about $43,973,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 1.7 %

Shares of AppLovin stock opened at $126.09 on Monday. The stock has a 50-day simple moving average of $87.10 and a 200-day simple moving average of $79.83. AppLovin has a 52-week low of $34.45 and a 52-week high of $128.19. The firm has a market cap of $41.49 billion, a price-to-earnings ratio of 75.05, a P/E/G ratio of 1.41 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. The business had revenue of $1.08 billion during 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%. AppLovin’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. On average, equities research analysts expect that AppLovin will post 3.46 earnings per share for the current fiscal year.

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.