Brokerages Set AppLovin Co. (NASDAQ:APP) Price Target at $366.29

Shares of AppLovin Co. (NASDAQ:APP) have been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $422.18.

A number of equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday. 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. Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Benchmark upped their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the sale, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 828,991 shares of company stock valued at $267,640,144 in the last ninety days. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several hedge funds have recently added to or reduced their stakes in APP. JFS Wealth Advisors LLC boosted its stake in shares of AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in shares of AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after acquiring an additional 31 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after acquiring an additional 33 shares in the last quarter. Forum Financial Management LP boosted its stake in shares of AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after acquiring an additional 33 shares in the last quarter. Finally, Truvestments Capital LLC boosted its stake in shares of AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after acquiring an additional 38 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Up 8.2 %

Shares of NASDAQ APP opened at $510.13 on Thursday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market capitalization of $171.19 billion, a price-to-earnings ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30. The stock has a 50 day moving average price of $351.33 and a 200 day moving average price of $230.42. AppLovin has a 52-week low of $52.75 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 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%. Sell-side analysts expect that AppLovin will post 4.09 earnings per share for the current year.

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.