Analysts Set AppLovin Co. (NASDAQ:APP) Price Target at $338.06

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) have been given an average rating of "Moderate Buy" by the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $338.06.

APP has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on AppLovin from $360.00 to $366.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Jefferies Financial Group upped their target price on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Daiwa America raised shares of AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. Citigroup upped their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of AppLovin from $200.00 to $325.00 and gave the company a "neutral" rating in a report on Friday, January 10th.

AppLovin Price Performance

APP traded up $10.33 during trading on Friday, reaching $342.34. 4,173,415 shares of the company were exchanged, compared to its average volume of 3,899,418. AppLovin has a 12-month low of $40.71 and a 12-month high of $417.64. The company's 50-day moving average is $330.75 and its two-hundred day moving average is $189.06. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a P/E/G ratio of 2.68 and a beta of 2.29.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.30 earnings per share. The firm's revenue was up 38.6% compared to the same quarter last year. Research analysts forecast that AppLovin will post 4.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company's stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the transaction, the chief technology officer now directly owns 3,919,024 shares of the company's stock, valued at approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Veracity Capital LLC lifted its stake in shares of AppLovin by 94.3% in the fourth quarter. Veracity Capital LLC now owns 3,451 shares of the company's stock worth $1,118,000 after buying an additional 1,675 shares in the last quarter. Donoghue Forlines LLC raised its holdings in AppLovin by 28.4% in the 4th quarter. Donoghue Forlines LLC now owns 6,317 shares of the company's stock worth $2,046,000 after acquiring an additional 1,399 shares during the last quarter. Capital Planning Advisors LLC purchased a new position in AppLovin in the 4th quarter worth approximately $256,000. Whalen Wealth Management Inc. bought a new position in AppLovin in the 4th quarter valued at approximately $286,000. Finally, Avior Wealth Management LLC boosted its stake in AppLovin by 54.7% during the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company's stock valued at $70,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

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.