AppLovin’s (APP) Outperform Rating Reiterated at Macquarie

Macquarie reiterated their outperform rating on shares of AppLovin (NASDAQ:APP) in a research report released on Wednesday, Benzinga reports. Macquarie currently has a $150.00 price target on the stock, up from their previous price target of $115.00.

Several other research analysts have also commented on the company. Wedbush dropped their price target on AppLovin from $100.00 to $90.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Benchmark lifted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the company a sell rating in a report on Friday, August 23rd. Jefferies Financial Group lifted their price objective on shares of AppLovin from $105.00 to $108.00 and gave the company a buy rating in a report on Tuesday, September 10th. Oppenheimer reaffirmed an outperform rating and issued a $105.00 price target (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Finally, UBS Group raised shares of AppLovin from a neutral rating to a buy rating and boosted their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, AppLovin presently has an average rating of Moderate Buy and a consensus price target of $106.44.

AppLovin Trading Down 0.3 %

NASDAQ APP opened at $127.75 on Wednesday. The stock’s 50-day simple moving average is $92.41 and its two-hundred day simple moving average is $82.57. AppLovin has a twelve month low of $34.45 and a twelve month high of $133.05. 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 company has a market capitalization of $42.70 billion, a price-to-earnings ratio of 76.04, a PEG ratio of 1.82 and a beta of 1.88.

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

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the sale, the insider now owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the sale, the insider now owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The disclosure for this sale can be found here. Insiders have sold a total of 775,934 shares of company stock valued at $65,805,022 over the last quarter. 14.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in APP. WCM Investment Management LLC acquired a new position in shares of AppLovin in the first quarter valued at approximately $497,488,000. Fred Alger Management LLC purchased a new stake in AppLovin during the 2nd quarter worth $290,655,000. Whale Rock Capital Management LLC acquired a new position in shares of AppLovin in the first quarter worth about $195,129,000. Jericho Capital Asset Management L.P. boosted its stake in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after buying an additional 2,525,240 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after acquiring an additional 1,357,400 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.