AppLovin Co. (NASDAQ:APP) Receives $310.71 Consensus Price Target from Analysts

AppLovin Co. (NASDAQ:APP) has been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $310.71.

A number of brokerages recently issued reports on APP. Bank of America lifted their target price on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $280.00 in a report on Friday, November 8th. Jefferies Financial Group increased their target price on shares of AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus lifted their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Piper Sandler started coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock.

AppLovin Stock Down 3.3 %

Shares of APP stock opened at $335.17 on Wednesday. AppLovin has a 12-month low of $37.40 and a 12-month high of $417.64. 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 fifty day moving average of $284.48 and a 200-day moving average of $162.01. The company has a market capitalization of $112.48 billion, a price-to-earnings ratio of 101.57, a P/E/G ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP) last released 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 during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. As a group, equities research analysts predict that AppLovin will post 4.06 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Several institutional investors have recently added to or reduced their stakes in APP. FMR LLC boosted its holdings 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 purchasing an additional 6,801,138 shares during the period. Fred Alger Management LLC acquired a new stake in shares of AppLovin in the second quarter valued at approximately $290,655,000. 1832 Asset Management L.P. boosted its stake in shares of AppLovin by 977.2% in the second 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 during the period. WCM Investment Management LLC grew its position in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in AppLovin by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after acquiring an additional 560,560 shares during the period. 41.85% of the stock is currently 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.