AppLovin (NASDAQ:APP) Given New $575.00 Price Target at Piper Sandler

AppLovin (NASDAQ:APP - Get Free Report) had its price objective raised by equities research analysts at Piper Sandler from $400.00 to $575.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 12.72% from the company's current price.

APP has been the subject of several other research reports. Jefferies Financial Group increased their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Macquarie increased their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Benchmark began coverage on shares of AppLovin in a research report on Friday, January 10th. They set a "buy" rating and a $375.00 price target on the stock. Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Daiwa Capital Markets raised shares of AppLovin from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. 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 company. Based on data from MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus price target of $422.18.

AppLovin Stock Performance

Shares of APP traded up $38.46 during trading hours on Thursday, hitting $510.13. The stock had a trading volume of 11,325,513 shares, compared to its average volume of 3,704,961. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a 50-day moving average price of $351.33 and a 200 day moving average price of $230.42. AppLovin has a fifty-two week low of $52.75 and a fifty-two week high of $525.15. The firm has a market capitalization of $171.19 billion, a price-to-earnings ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. As a group, research analysts anticipate that AppLovin will post 4.09 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, Director Craig Scott Billings sold 18,000 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the sale, the director now owns 2,987 shares of the company's stock, valued at $952,673.78. This trade represents a 85.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Herald Y. Chen sold 400 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now directly owns 207,649 shares in the company, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 828,991 shares of company stock valued at $267,640,144. Corporate insiders own 14.69% of the company's stock.

Institutional Trading of AppLovin

Hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $25,000. GHP Investment Advisors Inc. acquired a new position in AppLovin in the fourth quarter worth $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in AppLovin in the fourth quarter worth $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the third quarter worth $27,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of AppLovin during the third quarter worth $27,000. Institutional investors 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.