AppLovin (NASDAQ:APP) PT Raised to $185.00

AppLovin (NASDAQ:APP) had its price target increased by Stifel Nicolaus from $100.00 to $185.00 in a research report report published on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Jefferies Financial Group raised their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Oppenheimer lifted their price target on AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush cut their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Benchmark lifted their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Finally, Loop Capital initiated coverage on AppLovin in a research note on Tuesday. They set a “buy” rating and a $181.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $129.58.

AppLovin Stock Performance

Shares of APP opened at $159.40 on Wednesday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a 50-day moving average of $115.25 and a 200-day moving average of $91.60. The company has a market cap of $52.44 billion, a PE ratio of 94.88, a P/E/G ratio of 2.07 and a beta of 1.92. AppLovin has a one year low of $34.45 and a one year high of $165.38.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. The company 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 revenue for the quarter was up 44.0% compared to the same quarter last year. During the same period last year, the business posted $0.22 EPS. On average, equities research analysts predict that AppLovin will post 3.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin 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 sale, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock valued at $51,022,478 in the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp grew its stake in AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after buying an additional 248,022 shares in the last quarter. Acadian Asset Management LLC grew its stake in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after buying an additional 15,590 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after buying an additional 10,099 shares in the last quarter. Clearbridge Investments LLC grew its stake in AppLovin by 73.0% in the 2nd quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock valued at $74,344,000 after buying an additional 376,835 shares in the last quarter. Finally, Sei Investments Co. grew its stake in AppLovin by 77.0% in the 2nd quarter. Sei Investments Co. now owns 515,665 shares of the company’s stock valued at $42,914,000 after buying an additional 224,306 shares in the last quarter. 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.