AppLovin (NASDAQ:APP) Stock Price Expected to Rise, Bank of America Analyst Says

AppLovin (NASDAQ:APP) had its price target raised by equities research analysts at Bank of America from $252.00 to $375.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 13.72% from the stock’s previous close.

APP has been the topic of several other reports. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and upped their price target for the company from $103.00 to $150.00 in a report on Monday, October 14th. Jefferies Financial Group raised their price objective on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Citigroup lifted their price objective on AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. increased their target price on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Stock Up 3.2 %

AppLovin stock opened at $329.77 on Monday. The stock’s 50 day moving average price is $185.37 and its 200 day moving average price is $119.37. The company has a market cap of $110.67 billion, a PE ratio of 99.93, a price-to-earnings-growth ratio of 4.11 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin has a 1-year low of $35.79 and a 1-year high of $344.77.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue was up 38.6% on a year-over-year basis. On average, sell-side analysts predict that AppLovin will post 4.05 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the transaction, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This represents a 3.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 854,065 shares of company stock valued at $233,072,408 over the last three months. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in AppLovin during the third quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new position in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin in the third quarter worth $29,000. Finally, Quest Partners LLC bought a new stake in AppLovin during the second quarter valued at $33,000. 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.