Brokerages Set AppLovin Co. (NASDAQ:APP) Price Target at $265.57

Shares of AppLovin Co. (NASDAQ:APP) have received an average rating of “Moderate Buy” from the twenty analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $265.57.

Several research analysts have weighed in on the stock. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Piper Sandler assumed coverage on AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target for the company. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and upped their price objective for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Loop Capital lifted their target price on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus boosted their price target on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 30,330 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total value of $10,029,221.10. Following the transaction, the director now owns 90,576 shares of the company’s stock, valued at approximately $29,950,765.92. This represents a 25.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the sale, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 884,395 shares of company stock valued at $243,101,629. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in AppLovin during the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin in the third quarter valued at $29,000. Finally, Quest Partners LLC purchased a new stake in shares of AppLovin in the second quarter valued at $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Trading Up 1.1 %

NASDAQ:APP opened at $340.59 on Friday. The stock has a market cap of $114.30 billion, a price-to-earnings ratio of 103.50, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86. AppLovin has a one year low of $35.79 and a one year high of $347.60. 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 $201.91 and its 200 day simple moving average is $126.29.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company posted $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin will post 4.06 earnings per share for the current fiscal year.

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.