The Goldman Sachs Group cut shares of AppLovin (NASDAQ:APP - Free Report) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat.com reports. The brokerage currently has $150.00 target price on the stock, up from their prior target price of $103.00.
Several other equities analysts have also recently weighed in on the company. UBS Group raised AppLovin from a neutral rating to a buy rating and increased their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Bank of America increased their target price on AppLovin from $100.00 to $120.00 and gave the company a buy rating in a report on Wednesday, September 11th. Oppenheimer reaffirmed an outperform rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Macquarie reissued an outperform rating and issued a $150.00 price objective (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Finally, Wedbush reduced their target price on shares of AppLovin from $100.00 to $90.00 and set an outperform rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $110.01.
View Our Latest Stock Analysis on APP
AppLovin Stock Down 1.2 %
AppLovin stock traded down $1.70 during mid-day trading on Monday, reaching $145.30. The stock had a trading volume of 5,359,648 shares, compared to its average volume of 4,191,215. The company has a market capitalization of $47.81 billion, a price-to-earnings ratio of 86.49, a PEG ratio of 2.07 and a beta of 1.92. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin has a one year low of $34.45 and a one year high of $148.48. The company has a 50-day moving average price of $104.70 and a two-hundred day moving average price of $87.78.
AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin's revenue was up 44.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 EPS. On average, analysts expect that AppLovin will post 3.46 EPS for the current fiscal year.
Insider Activity at AppLovin
In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now owns 1,164,396 shares of the company's stock, valued at approximately $88,121,489.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the business's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company's stock, valued at $31,728,387.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now directly owns 1,164,396 shares of the company's stock, valued at $88,121,489.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 610,094 shares of company stock valued at $51,022,478. Insiders own 14.69% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Fred Alger Management LLC acquired a new stake in shares of AppLovin during the second quarter worth about $290,655,000. Whale Rock Capital Management LLC acquired a new position in shares of AppLovin in the 1st quarter valued at about $195,129,000. Jericho Capital Asset Management L.P. boosted its stake in shares of AppLovin by 185.0% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company's stock worth $269,305,000 after buying an additional 2,525,240 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company's stock worth $124,522,000 after acquiring an additional 1,357,400 shares during the period. Finally, Jackson Square Partners LLC purchased a new stake in AppLovin in the 1st quarter worth approximately $54,736,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.
About AppLovin
(
Get Free Report)
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.
Read More
Before you consider AppLovin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AppLovin wasn't on the list.
While AppLovin currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
