AppLovin (NASDAQ:APP) Stock Rating Lowered by The Goldman Sachs Group

AppLovin (NASDAQ:APP) was downgraded by analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Monday, MarketBeat Ratings reports. They currently have a $150.00 price target on the stock, up from their previous price target of $103.00. The Goldman Sachs Group’s price objective suggests a potential upside of 4.30% from the company’s previous close.

A number of other equities research analysts also recently commented on APP. BTIG Research increased their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Macquarie reissued an “outperform” rating and issued a $150.00 target price (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Jefferies Financial Group lifted their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Wedbush dropped 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. Finally, Bank of America boosted their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.01.

AppLovin Price Performance

Shares of APP opened at $143.81 on Monday. The company has a market cap of $47.32 billion, a P/E ratio of 85.60, a PEG ratio of 2.07 and a beta of 1.92. AppLovin has a fifty-two week low of $34.45 and a fifty-two week high of $148.48. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm’s 50 day moving average price is $107.75 and its 200 day moving average price is $88.84.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 for 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%. The company’s revenue was up 44.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, research analysts forecast that AppLovin will post 3.46 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction on 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 transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Victoria Valenzuela sold 14,166 shares of the firm’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 owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the transaction, the chief technology officer now owns 4,530,455 shares in the company, valued at $381,192,483.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 610,094 shares of company stock valued at $51,022,478. Company insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of AppLovin in the 2nd quarter worth approximately $33,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in AppLovin in the second quarter valued at $34,000. Covestor Ltd grew its holdings in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of AppLovin in the second quarter valued at $37,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of AppLovin during the 1st quarter worth $38,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.