AppLovin Co. (NASDAQ:APP) Receives Average Recommendation of “Moderate Buy” from Analysts

AppLovin Co. (NASDAQ:APP) has received an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $338.06.

APP has been the topic of a number of recent research reports. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Wells Fargo & Company upped their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Jefferies Financial Group increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Oppenheimer reaffirmed an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a report on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by corporate insiders.

Institutional Trading of AppLovin

A number of institutional investors have recently bought and sold shares of the business. FMR LLC increased its stake in shares of AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of AppLovin in the 2nd quarter valued at approximately $290,655,000. 1832 Asset Management L.P. increased its stake in AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares in the last quarter. WCM Investment Management LLC raised its holdings in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after buying an additional 560,560 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ:APP opened at $342.34 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $114.89 billion, a P/E ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The company has a fifty day moving average price of $330.75 and a 200 day moving average price of $189.06. AppLovin has a one year low of $40.71 and a one year high of $417.64.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. Analysts anticipate that AppLovin will post 4.06 earnings per share for the current year.

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.