AppLovin (NASDAQ:APP) Reaches New 1-Year High - What's Next?

AppLovin Co. (NASDAQ:APP - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $298.40 and last traded at $293.45, with a volume of 1310710 shares trading hands. The stock had previously closed at $283.96.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APP shares. BTIG Research upped their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Bank of America upped their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $160.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. The Goldman Sachs Group lowered shares of AppLovin from a "buy" rating to a "neutral" rating and upped their target price for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Daiwa Capital Markets raised shares of AppLovin from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average target price of $194.31.

AppLovin Stock Performance

The company's fifty day simple moving average is $151.08 and its 200 day simple moving average is $105.82. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $95.09 billion, a P/E ratio of 86.05, a P/E/G ratio of 3.56 and a beta of 1.86.

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

Insider Activity

In other news, Director Eduardo Vivas sold 229,200 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the sale, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were 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 in the company, valued at approximately $900,711.30. This trade represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 404,866 shares of company stock worth $34,670,777. 14.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently added to or reduced their stakes in APP. Great Valley Advisor Group Inc. grew its holdings in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company's stock worth $370,000 after acquiring an additional 60 shares during the last quarter. HM Payson & Co. grew its holdings in AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company's stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company's stock worth $4,371,000 after acquiring an additional 104 shares during the last quarter. Ashton Thomas Securities LLC grew its holdings in AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company's stock worth $626,000 after acquiring an additional 121 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in AppLovin by 8.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company's stock worth $217,000 after acquiring an additional 126 shares during the last quarter. Hedge funds and other 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.