AppLovin (NASDAQ:APP) Price Target Raised to $325.00 at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP - Free Report) had its target price increased by JPMorgan Chase & Co. from $200.00 to $325.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on APP. Stifel Nicolaus upped their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Daiwa America upgraded AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. BTIG Research raised their price objective on AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group cut 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 report on Monday, October 14th. Finally, Macquarie lifted their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and an average target price of $337.71.

AppLovin Stock Down 3.3 %

Shares of APP stock traded down $10.72 during trading on Friday, hitting $318.48. 4,220,662 shares of the company were exchanged, compared to its average volume of 4,662,886. The business's 50-day simple moving average is $318.41 and its 200 day simple moving average is $179.76. AppLovin has a twelve month low of $39.43 and a twelve month high of $417.64. The firm has a market capitalization of $106.88 billion, a price-to-earnings ratio of 96.51, a P/E/G ratio of 4.17 and a beta of 2.29. 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 (NASDAQ:APP - Get Free Report) last posted 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 business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the previous year, the company posted $0.30 EPS. AppLovin's revenue was up 38.6% on a year-over-year basis. As a group, analysts forecast that AppLovin will post 4.06 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares of the company's stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company's stock.

Institutional Trading of AppLovin

Several hedge funds have recently modified their holdings of the stock. National Bank of Canada FI raised its holdings in AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company's stock worth $131,000 after purchasing an additional 39 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company's stock worth $104,000 after buying an additional 53 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in shares of AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company's stock worth $370,000 after buying an additional 60 shares during the last quarter. HM Payson & Co. lifted its holdings in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company's stock valued at $39,000 after buying an additional 100 shares during the period. Finally, Aptus Capital Advisors LLC boosted its stake in AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company's stock valued at $4,371,000 after acquiring an additional 104 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

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.