AppLovin (NASDAQ:APP - Free Report) had its price objective increased by Loop Capital from $385.00 to $450.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other research analysts also recently issued reports on APP. Bank of America boosted their price objective on shares of AppLovin from $252.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Thursday, November 7th. Piper Sandler assumed coverage on shares of AppLovin in a report on Wednesday, November 20th. They issued an "overweight" rating and a $400.00 price objective for the company. Wells Fargo & Company lifted their price objective on AppLovin from $250.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Finally, Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $296.40.
Check Out Our Latest Research Report on APP
AppLovin Trading Up 6.0 %
NASDAQ:APP traded up $19.49 during trading hours on Monday, reaching $343.96. The company's stock had a trading volume of 8,302,336 shares, compared to its average volume of 4,601,208. The firm has a 50-day simple moving average of $246.00 and a 200-day simple moving average of $145.23. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin has a 1 year low of $37.40 and a 1 year high of $417.64. The firm has a market capitalization of $115.43 billion, a price-to-earnings ratio of 103.05, a PEG ratio of 4.17 and a beta of 2.28.
AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business's revenue was up 38.6% on a year-over-year basis. Research analysts expect that AppLovin will post 4.06 EPS for the current fiscal year.
Insider Activity at AppLovin
In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now owns 6,684 shares of the company's stock, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 872,896 shares of company stock valued at $279,773,021. 14.69% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On AppLovin
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in AppLovin during the third quarter worth $25,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the 3rd quarter worth approximately $27,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin in the third quarter worth $29,000. Finally, HM Payson & Co. increased its position in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company's stock worth $39,000 after purchasing an additional 100 shares in the last quarter. 41.85% of the stock is owned by institutional investors.
About AppLovin
(
Get Free Report)
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.
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