AppLovin’s (APP) “Outperform” Rating Reaffirmed at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of AppLovin (NASDAQ:APP) in a research note published on Tuesday,Benzinga reports. Oppenheimer currently has a $480.00 target price on the stock.

Several other equities analysts have also commented on the company. Citigroup upped their target price on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. BTIG Research increased their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Piper Sandler assumed coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. Finally, Benchmark reissued a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

AppLovin Price Performance

AppLovin stock opened at $321.06 on Tuesday. The stock has a market capitalization of $107.75 billion, a P/E ratio of 97.29, a P/E/G ratio of 4.95 and a beta of 2.27. AppLovin has a 12-month low of $35.79 and a 12-month high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm’s 50-day moving average is $234.35 and its two-hundred day moving average is $140.02.

AppLovin (NASDAQ:APP) last announced its earnings results 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. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. Equities analysts predict that AppLovin will post 4.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 772,220 shares of company stock worth $246,555,212 over the last quarter. Company insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Institutional 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 valued at approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at $27,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the third quarter valued at about $29,000. Finally, HM Payson & Co. increased its position in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 41.85% of the stock is owned by institutional investors.

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.