Piper Sandler Begins Coverage on AppLovin (NASDAQ:APP)

Investment analysts at Piper Sandler started coverage on shares of AppLovin (NASDAQ:APP) in a research report issued on Wednesday, Marketbeat reports. The firm set an “overweight” rating and a $400.00 price target on the stock. Piper Sandler’s price objective would indicate a potential upside of 25.39% from the company’s current price.

Other analysts have also recently issued reports about the stock. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Stifel Nicolaus upped their price target on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Finally, Bank of America increased their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $222.96.

AppLovin Trading Down 1.9 %

Shares of NASDAQ:APP opened at $318.99 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $107.05 billion, a PE ratio of 96.67, a P/E/G ratio of 3.95 and a beta of 1.86. AppLovin has a 1 year low of $35.79 and a 1 year high of $342.51. The firm has a fifty day moving average price of $176.89 and a 200 day moving average price of $115.35.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.30 EPS. The firm’s revenue was up 38.6% on a year-over-year basis. Analysts expect that AppLovin will post 4.06 EPS for the current fiscal year.

Insider Transactions at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 221,376 shares of company stock valued at $30,737,619. Company insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC bought a new position in AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin during the third quarter worth $29,000. Finally, Quest Partners LLC bought a new stake in shares of AppLovin during the second quarter worth $33,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.