AppLovin (NASDAQ:APP) PT Raised to $150.00

AppLovin (NASDAQ:APP) had its target price hoisted by BTIG Research from $114.00 to $150.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 33.24% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Wedbush decreased their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America raised their price objective on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $105.00 target price (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Finally, Benchmark raised their price target on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.78.

AppLovin Stock Up 6.6 %

Shares of NASDAQ:APP opened at $112.58 on Friday. AppLovin has a 52-week low of $34.45 and a 52-week high of $112.88. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The business’s 50 day moving average is $84.08 and its 200 day moving average is $78.24. The stock has a market cap of $37.63 billion, a P/E ratio of 67.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. Sell-side analysts predict that AppLovin will post 3.46 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the sale, the insider now directly owns 390,615 shares in the company, valued at $33,225,711.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the sale, the insider now owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the transaction, the director now directly owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders sold a total of 775,934 shares of company stock worth $65,805,022 in the last three months. 14.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. American Trust boosted its holdings in AppLovin by 44.7% during the 2nd quarter. American Trust now owns 8,030 shares of the company’s stock valued at $668,000 after acquiring an additional 2,480 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of AppLovin in the second quarter valued at approximately $241,000. Clearbridge Investments LLC grew its holdings in shares of AppLovin by 73.0% in the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock valued at $74,344,000 after purchasing an additional 376,835 shares in the last quarter. Dana Investment Advisors Inc. increased its stake in AppLovin by 5.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 11,438 shares of the company’s stock worth $952,000 after buying an additional 604 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in AppLovin by 115.3% during the 2nd quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock worth $2,548,000 after buying an additional 16,397 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other 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.