AppLovin Co. (NASDAQ:APP) Given Average Rating of “Moderate Buy” by Brokerages

Shares of AppLovin Co. (NASDAQ:APP) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $106.44.

APP has been the topic of a number of recent analyst reports. Oppenheimer reissued an “outperform” rating and set a $105.00 price target (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Bank of America increased their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Macquarie restated an “outperform” rating and set a $150.00 price objective (up from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, BTIG Research increased their target price on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 13th.

AppLovin Trading Up 1.0 %

Shares of AppLovin stock opened at $144.84 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin has a 12-month low of $34.45 and a 12-month high of $145.68. The firm has a market capitalization of $47.65 billion, a price-to-earnings ratio of 86.21, a PEG ratio of 1.82 and a beta of 1.92. The firm’s 50 day simple moving average is $103.13 and its two-hundred day simple moving average is $87.01.

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

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the sale, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. This trade represents a 0.00 % 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. In other news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the transaction, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of APP. Quest Partners LLC acquired a new position in AppLovin in the 2nd quarter valued at $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin during the 2nd quarter worth $34,000. Covestor Ltd boosted its position in shares of AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of AppLovin during the 2nd quarter worth $37,000. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of AppLovin during the 1st quarter worth $38,000. 41.85% of the stock is owned by institutional investors and hedge funds.

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.