The Goldman Sachs Group Has Lowered Expectations for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP - Get Free Report) had its price objective reduced by stock analysts at The Goldman Sachs Group from $500.00 to $335.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 40.63% from the stock's previous close.

Several other equities analysts have also recently commented on APP. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research report on Monday, March 17th. Morgan Stanley raised AppLovin from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $470.00 to $350.00 in a report on Thursday, April 10th. Bank of America raised their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. FBN Securities started coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and an average price target of $424.84.

AppLovin Price Performance

APP traded up $8.41 during trading on Monday, reaching $238.22. 5,278,241 shares of the company were exchanged, compared to its average volume of 5,818,977. AppLovin has a 12-month low of $60.67 and a 12-month high of $525.15. The company's 50-day moving average is $313.27 and its two-hundred day moving average is $296.01. 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 $80.98 billion, a price-to-earnings ratio of 52.47, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Research analysts forecast that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company's stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AppLovin

Institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its position in AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company's stock valued at $131,000 after acquiring an additional 39 shares during the period. Barclays PLC increased its stake in shares of AppLovin by 92.5% during the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of AppLovin by 38.8% during the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company's stock valued at $3,286,000 after purchasing an additional 7,039 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of AppLovin by 272.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 305 shares of the company's stock worth $40,000 after purchasing an additional 223 shares in the last quarter. Finally, Invst LLC grew its stake in shares of AppLovin by 23.2% in the 3rd quarter. Invst LLC now owns 6,812 shares of the company's stock worth $889,000 after buying an additional 1,284 shares during the last quarter. Institutional investors 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.