Loop Capital Forecasts Strong Price Appreciation for AppLovin (NASDAQ:APP) Stock

AppLovin (NASDAQ:APP) had its price target increased by analysts at Loop Capital from $181.00 to $385.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s target price suggests a potential upside of 33.20% from the stock’s previous close.

APP has been the subject of a number of other reports. Citigroup lifted their target price on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America increased 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. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Oppenheimer increased their price objective on AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $103.00 to $150.00 in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $194.31.

AppLovin Stock Performance

APP stock opened at $289.03 on Monday. The firm has a 50 day simple moving average of $143.14 and a 200 day simple moving average of $103.05. AppLovin has a 52 week low of $35.79 and a 52 week high of $292.86. The stock has a market cap of $96.61 billion, a P/E ratio of 87.59, a P/E/G ratio of 4.18 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.28 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. Research analysts anticipate that AppLovin will post 3.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 sale, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of AppLovin 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 completion of the transaction, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the 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 sale, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,866 shares of company stock worth $34,670,777 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of APP. Janney Montgomery Scott LLC lifted its position in AppLovin by 167.0% during 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. Empowered Funds LLC bought a new position in AppLovin in the first quarter valued at approximately $1,235,000. SG Americas Securities LLC grew its holdings in AppLovin by 33.5% during the 1st quarter. SG Americas Securities LLC now owns 4,100 shares of the company’s stock worth $284,000 after acquiring an additional 1,028 shares during the period. Forsta AP Fonden bought a new stake in shares of AppLovin during the 1st quarter valued at $3,364,000. Finally, Swiss National Bank lifted its stake in shares of AppLovin by 89.3% in the 1st quarter. Swiss National Bank now owns 536,790 shares of the company’s stock valued at $37,157,000 after purchasing an additional 253,200 shares during the period. 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.