AppLovin’s (APP) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of AppLovin (NASDAQ:APP) in a report released on Thursday morning,RTT News reports. They currently have a $270.00 price objective on the stock, up from their prior price objective of $170.00. Wedbush also issued estimates for AppLovin’s Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $3.44 EPS, Q1 2025 earnings at $0.98 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $1.00 EPS, Q4 2025 earnings at $1.03 EPS, FY2025 earnings at $3.98 EPS, Q1 2026 earnings at $1.05 EPS, Q2 2026 earnings at $1.06 EPS, Q3 2026 earnings at $1.08 EPS and FY2026 earnings at $4.31 EPS.

A number of other research analysts have also issued reports on APP. Loop Capital assumed coverage on AppLovin in a report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 target price for the company. Benchmark reiterated a “sell” rating and issued a $66.00 price objective on shares of AppLovin in a research note on Thursday. Stifel Nicolaus upped their target price 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. Bank of America lifted their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company initiated coverage on shares of AppLovin in a research report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.31.

AppLovin Stock Performance

Shares of AppLovin stock opened at $290.01 on Thursday. The stock has a market capitalization 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. 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 business has a 50-day moving average of $139.27 and a 200 day moving average of $101.29. AppLovin has a 12 month low of $35.79 and a 12 month high of $292.86.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.06%. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. As a group, sell-side analysts forecast that AppLovin will post 3.47 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the transaction, 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 in the last three months. 14.69% of the stock is currently owned by company insiders.

Institutional Trading of AppLovin

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the third quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at $27,000. DT Investment Partners LLC acquired a new position in AppLovin in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter worth $29,000. Finally, HM Payson & Co. boosted its holdings in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

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.