Equities researchers at Wells Fargo & Company began coverage on shares of AppLovin (NASDAQ:APP - Get Free Report) in a research report issued on Monday, Benzinga reports. The firm set an "overweight" rating and a $200.00 price target on the stock. Wells Fargo & Company's price objective suggests a potential upside of 20.35% from the stock's current price.
A number of other equities research analysts also recently commented on the company. Bank of America upped their price objective on AppLovin from $100.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Macquarie reissued an "outperform" rating and set a $150.00 price objective (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $57.00 to $160.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Citigroup increased their price target on AppLovin from $155.00 to $185.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, Wedbush cut their price objective on AppLovin from $100.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.72.
Check Out Our Latest Research Report on AppLovin
AppLovin Price Performance
Shares of NASDAQ:APP traded up $4.56 on Monday, hitting $166.19. The stock had a trading volume of 2,579,823 shares, compared to its average volume of 4,156,930. The company has a market capitalization of $54.68 billion, a price-to-earnings ratio of 98.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The firm's 50 day moving average price is $119.72 and its 200-day moving average price is $93.35. AppLovin has a twelve month low of $35.79 and a twelve month high of $166.74.
AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating 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 net margin of 20.89% and a return on equity of 84.16%. AppLovin's revenue for the quarter was up 44.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 earnings per share. On average, equities research analysts predict that AppLovin will post 3.46 earnings per share for the current year.
Insider Activity at AppLovin
In related news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the business's 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 sale, the chief marketing officer now owns 1,164,396 shares of the company's stock, valued at $88,121,489.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 610,094 shares of company stock worth $51,022,478. Insiders own 14.69% of the company's stock.
Institutional Trading of AppLovin
Several large investors have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company's stock worth $17,336,000 after acquiring an additional 248,022 shares during the last quarter. Acadian Asset Management LLC lifted its stake in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company's stock valued at $1,127,000 after purchasing an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company's stock valued at $1,118,000 after buying an additional 10,099 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of AppLovin by 73.0% during the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company's stock worth $74,344,000 after buying an additional 376,835 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of AppLovin by 77.0% during the second quarter. Sei Investments Co. now owns 515,665 shares of the company's stock worth $42,914,000 after buying an additional 224,306 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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
