Piper Sandler Issues Pessimistic Forecast for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP - Free Report) had its price target lowered by Piper Sandler from $575.00 to $425.00 in a research note published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Oppenheimer reissued an "outperform" rating and issued a $560.00 target price on shares of AppLovin in a research report on Thursday, March 27th. Benchmark increased their target price on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. The Goldman Sachs Group raised their target price on AppLovin from $220.00 to $335.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Jefferies Financial Group increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $424.84.

AppLovin Trading Down 4.6 %

Shares of AppLovin stock traded down $11.55 during trading hours on Thursday, hitting $238.40. The company's stock had a trading volume of 4,187,077 shares, compared to its average volume of 5,758,572. The firm has a fifty day moving average of $327.20 and a 200-day moving average of $294.56. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $81.05 billion, a price-to-earnings ratio of 52.51, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin has a twelve month low of $60.67 and a twelve month high of $525.15.

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AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate 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 EPS for the current year.

Insider Activity

In related news, Director Herald Y. Chen sold 200,000 shares of the 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 transaction, the director now directly owns 621,209 shares of the company's stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction on Monday, March 10th. The shares were 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 directly owns 88,389 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co raised its position in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in AppLovin during the 4th quarter worth $28,000. Finally, Hemington Wealth Management grew its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other 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.