AppLovin (NASDAQ:APP) Price Target Raised to $440.00

AppLovin (NASDAQ:APP) had its target price hoisted by UBS Group from $315.00 to $440.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

APP has been the subject of a number of other reports. Bank of America upped their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Macquarie raised their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Citigroup boosted their price objective on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Jefferies Financial Group increased their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $355.41.

AppLovin Trading Up 0.2 %

AppLovin stock opened at $363.10 on Wednesday. AppLovin has a one year low of $40.71 and a one year high of $417.64. The business’s fifty day moving average is $337.41 and its 200 day moving average is $197.62. 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 stock has a market capitalization of $121.85 billion, a PE ratio of 110.03, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29.

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

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. 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 ninety days. 14.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppLovin

Hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its holdings in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after buying an additional 39 shares during the period. Versant Capital Management Inc increased its holdings in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after buying an additional 53 shares during the period. Great Valley Advisor Group Inc. raised its stake in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares in the last quarter. Fifth Third Bancorp lifted its holdings in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the period. Finally, Precision Wealth Strategies LLC boosted its position in AppLovin by 1.4% during the 4th quarter. Precision Wealth Strategies LLC now owns 4,772 shares of the company’s stock valued at $1,545,000 after acquiring an additional 64 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

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.