AppLovin’s (APP) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of AppLovin (NASDAQ:APP) in a research note published on Thursday morning,Benzinga reports.

Several other equities analysts have also weighed in on the stock. BTIG Research increased their price objective on shares of AppLovin from $150.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Wells Fargo & Company assumed coverage on AppLovin in a report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price objective for the company. Citigroup raised their target price on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.31.

AppLovin Stock Performance

Shares of AppLovin stock opened at $290.01 on Thursday. The firm has a 50 day simple moving average of $139.27 and a 200 day simple moving average of $101.29. AppLovin has a fifty-two week low of $35.79 and a fifty-two week high of $292.86. 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 $96.94 billion, a P/E ratio of 87.88, a P/E/G 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 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 for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.06% and a net margin of 26.85%. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Sell-side analysts predict that AppLovin will post 3.47 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 610,094 shares of company stock worth $51,022,478. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HM Payson & Co. lifted its stake in AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in shares of AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after buying an additional 104 shares during the period. Ashton Thomas Securities LLC raised its holdings in AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after buying an additional 121 shares during the last quarter. GAMMA Investing LLC raised its holdings in 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 buying an additional 126 shares during the last quarter. Finally, American Trust boosted its position in AppLovin by 2.8% during the 1st quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after buying an additional 150 shares during the period. Institutional investors 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.