AppLovin (NASDAQ:APP) Price Target Raised to $185.00

AppLovin (NASDAQ:APP) had its target price upped by Citigroup from $155.00 to $185.00 in a research report released on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Wedbush cut their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Bank of America upped their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and upped their target price for the company from $103.00 to $150.00 in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Oppenheimer restated an “outperform” rating and set a $105.00 target price (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.58.

AppLovin Price Performance

AppLovin stock opened at $159.00 on Tuesday. The stock’s fifty day moving average price is $116.75 and its two-hundred day moving average price is $92.07. AppLovin has a one year low of $34.45 and a one year high of $165.38. 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 firm has a market cap of $52.31 billion, a PE ratio of 94.88, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92.

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

Insider Buying and Selling at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 72,306 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $83.71, for a total value of $6,052,735.26. Following the completion of the transaction, the chief marketing officer now directly owns 1,092,090 shares of the company’s stock, valued at $91,418,853.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 610,094 shares of company stock valued at $51,022,478. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several large investors have recently added to or reduced their stakes in APP. Mitsubishi UFJ Trust & Banking Corp raised its position in AppLovin by 9,470.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after purchasing an additional 248,022 shares in the last quarter. Acadian Asset Management LLC raised its position in AppLovin by 2,081.4% during the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after purchasing an additional 15,590 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after buying an additional 10,099 shares during the period. Clearbridge Investments LLC increased its holdings in shares of AppLovin by 73.0% in the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock worth $74,344,000 after buying an additional 376,835 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of AppLovin by 77.0% in the second quarter. Sei Investments Co. now owns 515,665 shares of the company’s stock worth $42,914,000 after buying an additional 224,306 shares during the period. Institutional investors own 41.85% of the company’s stock.

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.