AppLovin (NASDAQ:APP) Price Target Raised to $366.00 at Wells Fargo & Company

AppLovin (NASDAQ:APP) had its price target upped by Wells Fargo & Company from $360.00 to $366.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Loop Capital upped their target price on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Macquarie upped their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a report on Friday. BTIG Research upped their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $338.06.

AppLovin Trading Down 0.9 %

Shares of APP stock opened at $315.68 on Monday. AppLovin has a fifty-two week low of $39.43 and a fifty-two week high of $417.64. 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 stock has a 50 day simple moving average of $321.54 and a two-hundred day simple moving average of $182.80. The company has a market cap of $105.94 billion, a P/E ratio of 95.66, a PEG ratio of 4.17 and a beta of 2.29.

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

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the transaction, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 over the last three months. 14.69% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

A number of institutional investors have recently modified their holdings of the business. Private Advisor Group LLC lifted its position in shares of AppLovin by 98.6% during the second quarter. Private Advisor Group LLC now owns 7,144 shares of the company’s stock worth $595,000 after acquiring an additional 3,547 shares in the last quarter. Quest Partners LLC purchased a new stake in AppLovin during the 2nd quarter worth about $33,000. Choreo LLC bought a new position in AppLovin in the 2nd quarter worth about $491,000. American Century Companies Inc. grew its holdings in AppLovin by 80.1% during the 2nd quarter. American Century Companies Inc. now owns 232,378 shares of the company’s stock valued at $19,338,000 after buying an additional 103,335 shares in the last quarter. Finally, BOKF NA bought a new stake in shares of AppLovin during the second quarter valued at about $413,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.