AppLovin (NASDAQ:APP) Stock Price Expected to Rise, Loop Capital Analyst Says

AppLovin (NASDAQ:APP) had its price target increased by stock analysts at Loop Capital from $385.00 to $450.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target would indicate a potential upside of 33.18% from the company’s current price.

A number of other brokerages also recently issued reports on APP. Macquarie upped their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group upped their price target on AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their price target on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Citigroup upped their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $296.40.

AppLovin Stock Down 1.8 %

AppLovin stock opened at $337.89 on Monday. The business has a fifty day moving average of $253.97 and a two-hundred day moving average of $148.87. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $113.39 billion, a P/E ratio of 102.39, a P/E/G ratio of 4.17 and a beta of 2.28. AppLovin has a twelve month low of $37.40 and a twelve month high of $417.64.

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

Insiders Place Their Bets

In other news, CFO Matthew Stumpf sold 21,101 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now directly owns 213,336 shares of the company’s stock, valued at $70,970,487.12. This represents a 9.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 872,896 shares of company stock valued at $279,773,021. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several hedge funds have recently modified their holdings of APP. FMR LLC lifted its stake in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares in the last quarter. Fred Alger Management LLC purchased a new position in AppLovin in the 2nd quarter valued at about $290,655,000. 1832 Asset Management L.P. lifted its stake in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares in the last quarter. WCM Investment Management LLC lifted its stake in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after buying an additional 560,560 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other 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.