AppLovin Co. (NASDAQ:APP) Receives $106.44 Average PT from Analysts

AppLovin Co. (NASDAQ:APP) has earned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $106.44.

APP has been the topic of several recent research reports. Macquarie restated an “outperform” rating and set a $150.00 target price (up from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Citigroup lifted their target price on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. BTIG Research increased their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. Jefferies Financial Group lifted their price objective on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and increased their target price for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th.

Insider Buying and Selling

In related news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares in the company, valued at $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares in the company, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock valued at $51,022,478 over the last quarter. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC purchased a new stake in shares of AppLovin during the 3rd quarter valued at $42,000. Quest Partners LLC acquired a new stake in AppLovin in the 2nd quarter worth approximately $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in AppLovin during the 2nd quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in AppLovin during the 2nd quarter valued at approximately $37,000. Finally, Summit Securities Group LLC purchased a new position in shares of AppLovin in the second quarter worth $42,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $147.00 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin has a 12 month low of $34.45 and a 12 month high of $147.60. The stock has a 50 day moving average of $104.70 and a 200 day moving average of $87.78. The firm has a market cap of $49.13 billion, a PE ratio of 62.55, a PEG ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last posted its earnings results 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 firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. 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 earnings per share. On average, research analysts expect that AppLovin will post 3.46 EPS for the current fiscal year.

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.