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

AppLovin Co. (NASDAQ:APP) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $310.71.

APP has been the subject of a number of recent analyst reports. Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Loop Capital boosted their price objective on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and raised their price target for the company from $103.00 to $150.00 in a research report on Monday, October 14th.

AppLovin Stock Performance

Shares of APP opened at $341.83 on Wednesday. The firm has a market cap of $114.72 billion, a price-to-earnings ratio of 103.59, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. The company’s fifty day moving average is $268.71 and its 200-day moving average is $155.82. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 12 month low of $37.40 and a 12 month high of $417.64.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 38.6% on a year-over-year basis. Equities analysts expect that AppLovin will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 in the last 90 days. 14.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppLovin

A number of hedge funds have recently made changes to their positions in APP. Capital Performance Advisors LLP bought a new position in AppLovin in the 3rd quarter valued at $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin in the third quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin during the 3rd quarter worth about $29,000. Finally, Quest Partners LLC bought a new stake in AppLovin during the 2nd quarter worth about $33,000. 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.