AppLovin (NASDAQ:APP) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

AppLovin (NASDAQ:APP) had its target price hoisted by equities research analysts at Jefferies Financial Group from $400.00 to $425.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 29.10% from the company’s previous close.

APP has been the subject of a number of other research reports. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and raised their price objective for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. Bank of America upped their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, BTIG Research upped their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $312.18.

AppLovin Stock Down 0.2 %

Shares of APP opened at $329.20 on Wednesday. AppLovin has a 12-month low of $38.60 and a 12-month high of $417.64. 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 company has a market capitalization of $110.48 billion, a PE ratio of 99.76, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The business’s 50 day moving average is $315.31 and its 200 day moving average is $178.09.

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

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at $204,688,365.50. The trade was a 13.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 in the last quarter. 14.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its stake in shares of AppLovin by 6.1% during the 2nd quarter. TD Asset Management Inc now owns 13,735 shares of the company’s stock worth $1,143,000 after purchasing an additional 793 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of AppLovin by 77.2% in the 2nd quarter. National Bank of Canada FI now owns 964 shares of the company’s stock valued at $82,000 after buying an additional 420 shares in the last quarter. Private Advisor Group LLC grew its position in shares of AppLovin by 98.6% in the 2nd quarter. Private Advisor Group LLC now owns 7,144 shares of the company’s stock worth $595,000 after buying an additional 3,547 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of AppLovin by 21.1% during the 2nd quarter. Acadian Asset Management LLC now owns 19,781 shares of the company’s stock worth $1,642,000 after acquiring an additional 3,442 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in AppLovin during the second quarter valued at approximately $33,000. 41.85% of the stock is currently owned by 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.