UBS Group Lowers AppLovin (NASDAQ:APP) Price Target to $450.00

AppLovin (NASDAQ:APP - Free Report) had its target price decreased by UBS Group from $630.00 to $450.00 in a research report sent to investors on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on APP. Oppenheimer restated an "outperform" rating and set a $560.00 target price on shares of AppLovin in a research report on Thursday, March 27th. Morgan Stanley raised shares of AppLovin from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $470.00 to $350.00 in a research note on Thursday, April 10th. Benchmark increased their target price on shares of AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. The Goldman Sachs Group upped their target price on AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Finally, Piper Sandler dropped their price target on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $424.84.

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AppLovin Price Performance

Shares of NASDAQ:APP traded up $4.46 during midday trading on Friday, reaching $240.53. 4,421,537 shares of the company's stock were exchanged, compared to its average volume of 5,765,546. The firm has a market capitalization of $81.77 billion, a PE ratio of 52.98, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company's 50 day simple moving average is $324.56 and its two-hundred day simple moving average is $295.32. AppLovin has a 12 month low of $60.67 and a 12 month high of $525.15. 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 issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities research analysts expect that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock valued at $106,401,841 over the last three months. 14.69% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. acquired a new stake in AppLovin in the fourth quarter valued at $25,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin in the fourth quarter worth approximately $25,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in AppLovin during the 4th quarter worth approximately $28,000. Finally, Hemington Wealth Management boosted its stake in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 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.