AppLovin Co. (NASDAQ:APP) Receives Average Rating of “Moderate Buy” from Brokerages

AppLovin Co. (NASDAQ:APP) has been given an average rating of “Moderate Buy” by the twenty research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $265.57.

Several equities research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Piper Sandler assumed coverage on AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price for the company. Jefferies Financial Group upped their target price on AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday. BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th.

Insider Activity at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the 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 in the company, valued at $381,192,483.70. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 884,395 shares of company stock valued at $243,101,629 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC purchased a new stake in shares of AppLovin in the second quarter worth about $290,655,000. 1832 Asset Management L.P. boosted its stake in shares of AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after buying an additional 1,357,400 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after buying an additional 560,560 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

APP opened at $336.75 on Friday. The business has a fifty day moving average of $197.69 and a 200 day moving average of $123.96. AppLovin has a 52-week low of $35.79 and a 52-week high of $344.77. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $113.01 billion, a P/E ratio of 102.05, a PEG ratio of 4.05 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 EPS. AppLovin’s revenue was up 38.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin will post 4.06 EPS for the current year.

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.