Analysts Set AppLovin Co. (NASDAQ:APP) Target Price at $91.78

Shares of AppLovin Co. (NASDAQ:APP) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $98.71.

A number of equities analysts have commented on the company. Jefferies Financial Group lifted their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Wedbush dropped their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Bank of America lifted their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $145.00 in a research report on Tuesday. Finally, BTIG Research lifted their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th.

AppLovin Stock Performance

Shares of APP opened at $123.16 on Monday. The company has a market cap of $40.52 billion, a PE ratio of 73.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a 50-day moving average price of $86.26 and a 200-day moving average price of $79.52. AppLovin has a 12-month low of $34.45 and a 12-month high of $125.75.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. As a group, equities analysts forecast that AppLovin will post 3.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 775,934 shares of company stock valued at $65,805,022. 14.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FinTrust Capital Advisors LLC bought a new position in shares of AppLovin during the fourth quarter valued at $32,000. Quest Partners LLC purchased a new stake in AppLovin during the second quarter valued at $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in AppLovin during the second quarter valued at $34,000. Covestor Ltd increased its position in AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after acquiring an additional 236 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in AppLovin during the second quarter valued at $37,000. 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.