AppLovin (NASDAQ:APP) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

AppLovin (NASDAQ:APP) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $200.00 to $325.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.05% from the stock’s current price.

Several other equities analysts have also recently issued reports on APP. Benchmark initiated coverage on shares of AppLovin in a research report on Friday. They set a “buy” rating and a $375.00 price target on the stock. Piper Sandler initiated coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective on the stock. Citigroup boosted their price objective on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Oppenheimer reissued an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research note on Tuesday, December 10th. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $337.71.

AppLovin Price Performance

Shares of NASDAQ APP opened at $318.48 on Friday. AppLovin has a 1 year low of $39.43 and a 1 year high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company’s 50-day moving average is $318.41 and its 200 day moving average is $180.45. The stock has a market capitalization of $106.88 billion, a P/E ratio of 96.51, a P/E/G ratio of 4.17 and a beta of 2.29.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. On average, sell-side analysts expect that AppLovin will post 4.06 earnings per share for the current year.

Insider Activity

In other news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last three months. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in AppLovin during the third quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in AppLovin during the third quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin during the third quarter valued at approximately $29,000. Finally, HM Payson & Co. increased its holdings in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.