AppLovin (NASDAQ:APP) Price Target Raised to $200.00 at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP) had its price target boosted by JPMorgan Chase & Co. from $160.00 to $200.00 in a research note released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on the company. Loop Capital initiated coverage on AppLovin in a research note on Tuesday, October 22nd. They set a “buy” rating and a $181.00 target price on the stock. Stifel Nicolaus raised their price target on shares of AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday. Citigroup increased their price objective on AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Bank of America boosted their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $182.31.

AppLovin Trading Up 17.6 %

NASDAQ:APP opened at $290.01 on Thursday. AppLovin has a 52 week low of $35.79 and a 52 week high of $292.86. The firm has a 50-day moving average price of $139.27 and a two-hundred day moving average price of $101.29. 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 market cap of $96.94 billion, a price-to-earnings ratio of 87.88, a price-to-earnings-growth ratio of 2.43 and a beta of 1.86.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.06% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.30 earnings per share. AppLovin’s revenue was up 38.6% on a year-over-year basis. On average, equities analysts expect that AppLovin will post 3.47 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s 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 owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the sale, the chief financial officer now owns 254,458 shares in the company, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 610,094 shares of company stock valued at $51,022,478. Corporate insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in APP. HM Payson & Co. boosted its holdings in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in shares of AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after acquiring an additional 104 shares in the last quarter. Ashton Thomas Securities LLC lifted its holdings in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after acquiring an additional 121 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of AppLovin by 8.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after purchasing an additional 126 shares in the last quarter. Finally, American Trust grew its holdings in shares of AppLovin by 2.8% during the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after purchasing an additional 150 shares during the last quarter. 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.