AppLovin (NASDAQ:APP) Now Covered by Analysts at Loop Capital

Loop Capital began coverage on shares of AppLovin (NASDAQ:APP) in a report released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $181.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Bank of America raised their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. BTIG Research lifted their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. Jefferies Financial Group raised their target price on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Macquarie restated an “outperform” rating and issued a $150.00 target price (up from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.45.

AppLovin Trading Up 0.1 %

Shares of APP stock opened at $158.95 on Tuesday. AppLovin has a 52-week low of $34.45 and a 52-week high of $163.08. 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 has a market capitalization of $52.30 billion, a PE ratio of 94.61, a PEG ratio of 2.07 and a beta of 1.92. The stock has a fifty day simple moving average of $113.67 and a two-hundred day simple moving average of $91.00.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. 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 prior year, the business posted $0.22 EPS. AppLovin’s revenue for the quarter was up 44.0% compared to the same quarter last year. On average, analysts predict that AppLovin will post 3.46 EPS for the current fiscal year.

Insider Activity

In related news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the transaction, the insider now owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. 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 this hyperlink. In related news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock valued at $51,022,478 in the last 90 days. Company insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APP. Wellington Management Group LLP raised its position in shares of AppLovin by 1,642.4% in the fourth quarter. Wellington Management Group LLP now owns 182,033 shares of the company’s stock valued at $7,254,000 after buying an additional 171,586 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of AppLovin in the first quarter valued at approximately $38,000. Sunbelt Securities Inc. acquired a new position in shares of AppLovin in the first quarter valued at approximately $146,000. Wealth Enhancement Advisory Services LLC raised its position in shares of AppLovin by 39.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,563 shares of the company’s stock valued at $4,746,000 after buying an additional 19,381 shares during the last quarter. Finally, Diversified Trust Co acquired a new position in shares of AppLovin in the first quarter valued at approximately $233,000. 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.