AppLovin (NASDAQ:APP) Stock Price Expected to Rise, BTIG Research Analyst Says

AppLovin (NASDAQ:APP) had its target price raised by analysts at BTIG Research from $150.00 to $202.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 19.25% from the stock’s current price.

Other research analysts have also issued reports about the stock. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Wedbush lowered their target price 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. Oppenheimer raised their target price on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Benchmark raised their target price on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $136.78.

AppLovin Stock Down 1.3 %

APP stock opened at $169.39 on Wednesday. AppLovin has a 12 month low of $35.79 and a 12 month high of $174.46. The firm has a market cap of $56.62 billion, a PE ratio of 72.08, a P/E/G ratio of 2.07 and a beta of 1.92. The firm has a 50 day simple moving average of $126.27 and a 200 day simple moving average of $95.70. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

AppLovin (NASDAQ:APP) last issued 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. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. Equities research analysts forecast that AppLovin will post 3.46 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction on Thursday, August 22nd. The stock was 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 directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock valued at $51,022,478 in the last three months. Corporate insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after purchasing an additional 248,022 shares during the period. Acadian Asset Management LLC raised its stake in shares of AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after purchasing an additional 15,590 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,099 shares during the period. Clearbridge Investments LLC raised its stake in shares of AppLovin by 73.0% in the 2nd quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock valued at $74,344,000 after purchasing an additional 376,835 shares during the period. Finally, Smithbridge Asset Management Inc. DE acquired a new stake in shares of AppLovin in the 3rd quarter valued at about $7,086,000. 41.85% of the stock is currently owned by institutional investors.

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.