AppLovin (NASDAQ:APP) Price Target Raised to $260.00

AppLovin (NASDAQ:APP) had its price objective hoisted by Oppenheimer from $180.00 to $260.00 in a report issued on Thursday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

APP has been the subject of several other reports. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Macquarie boosted their price objective on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday. Jefferies Financial Group raised their target price on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus boosted their target price on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and upped their price target for the company from $103.00 to $150.00 in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.31.

AppLovin Trading Up 17.6 %

Shares of NASDAQ APP opened at $290.01 on Thursday. The stock has a market cap of $96.94 billion, a price-to-earnings ratio of 87.88, a PEG ratio of 2.43 and a beta of 1.86. The business has a 50 day simple moving average of $139.27 and a 200 day simple moving average 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. AppLovin has a 52 week low of $35.79 and a 52 week high of $292.86.

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

Insider Buying and Selling

In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction 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 $88,121,489.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction that occurred 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 owns 254,458 shares in the company, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction 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 sale, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock valued at $51,022,478 over the last ninety days. 14.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after acquiring an additional 248,022 shares in the last quarter. Acadian Asset Management LLC boosted its stake in AppLovin by 2,081.4% in 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 in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of 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 increased its stake in shares of AppLovin by 73.0% in the second 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, Smithbridge Asset Management Inc. DE bought a new position in shares of AppLovin in the third quarter valued at about $7,086,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.