AppLovin (NASDAQ:APP) Given New $435.00 Price Target at Stifel Nicolaus

AppLovin (NASDAQ:APP) had its price target upped by research analysts at Stifel Nicolaus from $250.00 to $435.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 8.34% from the company’s previous close.

APP has been the topic of a number of other reports. JPMorgan Chase & Co. increased their target price on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Benchmark reissued a “sell” rating and set a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Wells Fargo & Company lifted their target price on AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $292.79.

AppLovin Stock Performance

NASDAQ:APP opened at $401.50 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a twelve month low of $35.79 and a twelve month high of $417.64. The company has a fifty day moving average of $220.82 and a 200-day moving average of $133.52. The firm has a market capitalization of $134.74 billion, a P/E ratio of 122.22, a P/E/G ratio of 4.52 and a beta of 2.28.

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, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue was up 38.6% on a year-over-year basis. As a group, sell-side analysts anticipate that AppLovin will post 4.06 EPS for the current year.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Craig Scott Billings sold 18,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now directly owns 2,987 shares in the company, valued at $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 778,320 shares of company stock valued at $246,810,683 over the last quarter. 14.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppLovin

Large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in AppLovin in the 3rd quarter valued at approximately $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin during the third quarter valued at $27,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin during the third quarter valued at $27,000. Raleigh Capital Management Inc. bought a new stake in AppLovin in the 3rd quarter worth about $29,000. Finally, Quest Partners LLC purchased a new position in AppLovin in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.