AppLovin (NASDAQ:APP) Price Target Raised to $202.00

AppLovin (NASDAQ:APP) had its target price increased by equities researchers at BTIG Research from $150.00 to $202.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 19.25% from the company’s previous close.

Other analysts also recently issued research reports about the company. Jefferies Financial Group lifted their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Oppenheimer boosted their price target on AppLovin from $105.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Bank of America boosted their price target on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Macquarie reissued an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price target on AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.78.

AppLovin Price Performance

NASDAQ:APP opened at $169.39 on Wednesday. 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 stock’s 50-day simple moving average is $126.27 and its 200 day simple moving average is $95.70. The company has a market cap of $56.62 billion, a P/E ratio of 72.08, a P/E/G ratio of 2.07 and a beta of 1.92. AppLovin has a 52-week low of $35.79 and a 52-week high of $174.46.

AppLovin (NASDAQ:APP) last released its 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 business had revenue of $1.08 billion for 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%. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. As a group, sell-side analysts forecast that AppLovin will post 3.46 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock worth $51,022,478 over the last quarter. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp lifted its stake 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 worth $17,336,000 after purchasing an additional 248,022 shares during the last quarter. Acadian Asset Management LLC lifted its stake in AppLovin by 2,081.4% during the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after purchasing an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in AppLovin by 167.0% during the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after purchasing an additional 10,099 shares during the last quarter. Clearbridge Investments LLC lifted its stake in AppLovin by 73.0% during the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock worth $74,344,000 after purchasing an additional 376,835 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE bought a new stake in AppLovin during the third quarter worth $7,086,000. 41.85% of the stock is currently owned by institutional investors.

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.