Macquarie Reaffirms “Outperform” Rating for AppLovin (NASDAQ:APP)

AppLovin (NASDAQ:APP)‘s stock had its “outperform” rating restated by equities research analysts at Macquarie in a research report issued on Wednesday, Benzinga reports. They presently have a $150.00 target price on the stock, up from their previous target price of $115.00. Macquarie’s target price would suggest a potential upside of 15.59% from the stock’s previous close.

Other research analysts also recently issued reports about the company. BTIG Research boosted their target price on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Jefferies Financial Group boosted their price objective on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Finally, Citigroup boosted their price objective on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.44.

AppLovin Trading Up 0.5 %

Shares of AppLovin stock traded up $0.69 on Wednesday, reaching $129.77. The company had a trading volume of 723,491 shares, compared to its average volume of 4,211,966. The firm has a market cap of $43.38 billion, a price-to-earnings ratio of 77.27, a P/E/G ratio of 1.82 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The firm’s 50-day moving average price is $89.54 and its two-hundred day moving average price is $81.44. AppLovin has a 1 year low of $34.45 and a 1 year high of $130.77.

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

Insiders Place Their Bets

In other news, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the transaction, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Victoria Valenzuela sold 47,001 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the transaction, the insider now directly owns 390,615 shares of the company’s stock, valued at approximately $33,225,711.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the transaction, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 775,934 shares of company stock valued at $65,805,022. 14.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppLovin

Hedge funds have recently bought and sold shares of the company. Precision Wealth Strategies LLC purchased a new position in AppLovin during the fourth quarter worth $324,000. Norges Bank acquired a new stake in shares of AppLovin during the fourth quarter worth $43,973,000. Franklin Resources Inc. boosted its holdings in shares of AppLovin by 154.9% during the fourth quarter. Franklin Resources Inc. now owns 235,187 shares of the company’s stock worth $9,372,000 after purchasing an additional 142,938 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of AppLovin by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 96,140 shares of the company’s stock worth $3,831,000 after purchasing an additional 807 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in shares of AppLovin by 104,207.7% during the fourth quarter. TFO Wealth Partners LLC now owns 13,560 shares of the company’s stock worth $518,000 after purchasing an additional 13,547 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other 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.