AppLovin (NASDAQ:APP) PT Raised to $160.00

AppLovin (NASDAQ:APP) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $57.00 to $160.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 0.38% from the stock’s current price.

A number of other equities research analysts have also issued reports on APP. Citigroup increased their target price on AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Macquarie reaffirmed an “outperform” rating and issued a $150.00 price objective (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Bank of America boosted their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. BTIG Research raised their price target on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Jefferies Financial Group lifted their price target on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.58.

AppLovin Price Performance

AppLovin stock opened at $159.40 on Tuesday. AppLovin has a 1 year low of $34.45 and a 1 year high of $165.38. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a 50 day moving average price of $115.25 and a 200 day moving average price of $91.60. The company has a market cap of $52.44 billion, a price-to-earnings ratio of 95.80, a PEG ratio of 2.07 and a beta of 1.92.

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

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at $88,121,489.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 610,094 shares of company stock worth $51,022,478. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APP. DT Investment Partners LLC acquired a new position in AppLovin in the third quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter worth $29,000. Quest Partners LLC acquired a new stake in shares of AppLovin during the second quarter worth $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin during the second quarter valued at $34,000. Finally, Covestor Ltd boosted its position in shares of AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the period. 41.85% of the stock is 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.