AppLovin (NASDAQ:APP – Free Report) had its target price lifted by The Goldman Sachs Group from $220.00 to $335.00 in a research note published on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.
Other analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their price objective on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Oppenheimer reissued an “outperform” rating and set a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. UBS Group upped their price target on AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Finally, Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $366.29.
View Our Latest Research Report on APP
AppLovin Stock Performance
AppLovin (NASDAQ:APP – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. AppLovin’s revenue was up 38.6% compared to the same quarter last year. On average, equities analysts forecast that AppLovin will post 4.06 EPS for the current year.
Insider Activity at AppLovin
In other news, Director Craig Scott Billings sold 18,000 shares of AppLovin 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 owns 2,987 shares of the company’s stock, valued at $952,673.78. The trade was a 85.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $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. Over the last 90 days, insiders have sold 888,867 shares of company stock valued at $284,773,062. Company insiders own 14.69% of the company’s stock.
Institutional Trading of AppLovin
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in AppLovin by 454.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,560 shares of the company’s stock valued at $25,330,000 after acquiring an additional 61,933 shares during the last quarter. Jackson Wealth Management LLC purchased a new stake in AppLovin during the fourth quarter valued at about $468,000. Yousif Capital Management LLC increased its stake in AppLovin by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 3,425 shares of the company’s stock worth $1,109,000 after acquiring an additional 132 shares during the last quarter. Finally, Calamos Wealth Management LLC purchased a new position in shares of AppLovin in the 4th quarter worth about $325,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.
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.
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