Jefferies Financial Group Forecasts Strong Price Appreciation for AppLovin (NASDAQ:APP) Stock

AppLovin (NASDAQ:APP - Get Free Report) had its target price hoisted by Jefferies Financial Group from $270.00 to $400.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's price target suggests a potential upside of 21.30% from the company's current price.

A number of other brokerages have also issued reports on APP. Oppenheimer boosted their price target on AppLovin from $260.00 to $480.00 and gave the stock an "outperform" rating in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $160.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. UBS Group upgraded AppLovin from a "neutral" rating to a "buy" rating and upped their target price for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Macquarie lifted their price target on AppLovin from $150.00 to $270.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Daiwa America raised AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $265.57.

AppLovin Stock Performance

APP stock traded up $10.18 during midday trading on Tuesday, reaching $329.77. The company had a trading volume of 4,440,288 shares, compared to its average volume of 4,468,423. AppLovin has a fifty-two week low of $35.79 and a fifty-two week high of $344.77. The firm has a market capitalization of $110.67 billion, a PE ratio of 99.93, a P/E/G ratio of 4.11 and a beta of 1.86. 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 stock has a 50 day moving average price of $185.37 and a 200 day moving average price of $119.37.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company's quarterly revenue was up 38.6% on a year-over-year basis. Analysts anticipate that AppLovin will post 4.05 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the sale, the chief financial officer now owns 213,336 shares of the company's stock, valued at $70,970,487.12. This trade represents a 9.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 854,065 shares of company stock worth $233,072,408. Corporate insiders own 14.69% of the company's stock.

Hedge Funds Weigh In On AppLovin

A number of hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in AppLovin during the third quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new position in shares of AppLovin in the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the 3rd quarter valued at approximately $29,000. Finally, HM Payson & Co. lifted 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 purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds 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.