AppLovin (NASDAQ:APP) Sets New 52-Week High - Should You Buy?

AppLovin Co. (NASDAQ:APP - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $166.23 and last traded at $165.90, with a volume of 1145119 shares trading hands. The stock had previously closed at $161.63.

Analyst Ratings Changes

Several equities analysts recently weighed in on APP shares. Benchmark raised their target price on shares of AppLovin from $48.00 to $66.00 and gave the company a "sell" rating in a research note on Friday, August 23rd. Bank of America raised their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. BTIG Research raised their target price on shares of AppLovin from $114.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Citigroup raised their target price on shares of AppLovin from $155.00 to $185.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of AppLovin from $57.00 to $160.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $129.58.

AppLovin Stock Performance

The business's 50-day moving average price is $119.72 and its 200-day moving average price is $93.35. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a market cap of $54.68 billion, a PE ratio of 97.26, a P/E/G ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm earned $0.22 EPS. The company's quarterly revenue was up 44.0% compared to the same quarter last year. As a group, equities research analysts expect that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred 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 completion of the sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred 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 completion of the sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now owns 352,616 shares of the company's stock, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 in the last three months. Corporate insiders own 14.69% of the company's stock.

Hedge Funds Weigh In On AppLovin

Several large investors have recently made changes to their positions in APP. Wealth Enhancement Advisory Services LLC increased its holdings in AppLovin by 39.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,563 shares of the company's stock worth $4,746,000 after acquiring an additional 19,381 shares in the last quarter. Diversified Trust Co purchased a new stake in AppLovin in the 1st quarter worth $233,000. Oak Thistle LLC purchased a new stake in AppLovin in the 1st quarter worth $284,000. Allspring Global Investments Holdings LLC grew its holdings in shares of AppLovin by 177.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 340,823 shares of the company's stock worth $23,592,000 after buying an additional 217,887 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of AppLovin during the first quarter worth $210,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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