Piper Sandler Raises AppLovin (NASDAQ:APP) Price Target to $575.00

AppLovin (NASDAQ:APP) had its target price lifted by equities researchers at Piper Sandler from $400.00 to $575.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 12.72% from the stock’s current price.

APP has been the topic of a number of other reports. UBS Group raised their target price on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday. BTIG Research raised their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Oppenheimer restated an “outperform” rating and set a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Finally, Loop Capital increased their price target on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $422.18.

AppLovin Stock Performance

Shares of AppLovin stock opened at $510.13 on Thursday. The firm has a market capitalization of $171.19 billion, a P/E ratio of 154.59, a P/E/G ratio of 3.10 and a beta of 2.30. AppLovin has a 52 week low of $52.75 and a 52 week high of $525.15. 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 firm’s 50 day moving average is $351.33 and its two-hundred day moving average is $229.34.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. Research analysts forecast that AppLovin will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, 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 transaction, the director now owns 6,684 shares in the company, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 828,991 shares of company stock valued at $267,640,144. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in AppLovin during the 3rd quarter worth about $25,000. GHP Investment Advisors Inc. purchased a new stake in AppLovin during the 4th quarter worth about $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin during the 4th quarter worth about $25,000. DT Investment Partners LLC purchased a new stake in AppLovin during the 3rd quarter worth about $27,000. Finally, Meeder Asset Management Inc. purchased a new stake in AppLovin during the 3rd quarter worth about $27,000. Hedge funds and other institutional investors 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.