Piper Sandler Begins Coverage on AppLovin (NASDAQ:APP)

Piper Sandler began coverage on shares of AppLovin (NASDAQ:APP) in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $400.00 price target on the stock.

APP has been the topic of a number of other research reports. Benchmark reissued a “sell” rating and issued a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. Wedbush reissued an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Bank of America lifted their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Jefferies Financial Group lifted their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Citigroup lifted their price target on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $222.96.

AppLovin Trading Up 4.7 %

APP opened at $333.31 on Wednesday. AppLovin has a one year low of $35.79 and a one year high of $342.51. The company has a market cap of $111.86 billion, a P/E ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business’s 50-day simple moving average is $181.30 and its 200-day simple moving average is $117.41.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. As a group, equities research analysts expect that AppLovin will post 4.05 EPS for the current fiscal year.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the transaction, the chief technology officer now directly owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares in the company, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock worth $233,072,408 in the last three months. 14.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppLovin

Large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin in the third quarter worth $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the third quarter worth $29,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin in the second quarter worth $33,000. 41.85% of the stock is 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.