AppLovin (NASDAQ:APP) Stock Price Up 0.1% on Analyst Upgrade

AppLovin Co. (NASDAQ:APP)’s stock price traded up 0.1% during trading on Thursday after UBS Group raised their price target on the stock from $315.00 to $440.00. UBS Group currently has a buy rating on the stock. AppLovin traded as high as $364.16 and last traded at $362.06. 839,625 shares were traded during mid-day trading, a decline of 79% from the average session volume of 3,984,239 shares. The stock had previously closed at $361.72.

Several other brokerages also recently commented on APP. Benchmark assumed coverage on shares of AppLovin in a research report on Friday, January 10th. They set a “buy” rating and a $375.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Wedbush restated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $355.41.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now directly owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 over the last three months. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV lifted its position in shares of AppLovin by 13.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,352 shares of the company’s stock worth $933,000 after acquiring an additional 1,355 shares in the last quarter. Amalgamated Bank boosted its stake in AppLovin by 44.9% in the 2nd quarter. Amalgamated Bank now owns 17,725 shares of the company’s stock worth $1,475,000 after purchasing an additional 5,490 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in AppLovin by 87.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,529 shares of the company’s stock valued at $127,000 after buying an additional 715 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of AppLovin by 38.3% during the second quarter. Canada Pension Plan Investment Board now owns 31,400 shares of the company’s stock valued at $2,613,000 after buying an additional 8,700 shares during the period. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of AppLovin by 17.8% in the second quarter. Ensign Peak Advisors Inc now owns 70,939 shares of the company’s stock worth $5,904,000 after buying an additional 10,700 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

The business’s 50-day moving average price is $335.97 and its 200 day moving average price is $195.69. The company has a market capitalization of $121.66 billion, a P/E ratio of 109.85, a price-to-earnings-growth ratio of 2.77 and a beta of 2.29. 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 (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business earned $0.30 EPS. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. Analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal 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.