AppLovin (NASDAQ:APP) Given New $160.00 Price Target at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP) had its price target raised by JPMorgan Chase & Co. from $57.00 to $160.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also issued reports on the stock. Benchmark lifted their target price on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. Wedbush decreased their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and raised their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Finally, Loop Capital started coverage on shares of AppLovin in a research report on Tuesday. They set a “buy” rating and a $181.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

AppLovin Price Performance

APP stock opened at $158.95 on Tuesday. AppLovin has a 12 month low of $34.45 and a 12 month high of $163.08. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a 50-day moving average price of $113.67 and a 200 day moving average price of $91.00. The stock has a market cap of $52.30 billion, a PE ratio of 94.61, a P/E/G ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.22 EPS. The company’s quarterly revenue was up 44.0% compared to the same quarter last year. Equities research analysts anticipate that AppLovin will post 3.46 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,094 shares of company stock worth $51,022,478. Company insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of hedge funds have recently made changes to their positions in APP. Raleigh Capital Management Inc. acquired a new position in AppLovin in the third quarter worth $29,000. Quest Partners LLC acquired a new position in AppLovin in the second quarter worth $33,000. Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin in the second quarter worth $34,000. Covestor Ltd boosted its holdings in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in AppLovin in the second quarter worth $37,000. Institutional investors and hedge funds 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.