AppLovin (NASDAQ:APP) Now Covered by Analysts at Loop Capital

Loop Capital started coverage on shares of AppLovin (NASDAQ:APP) in a research note published on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $181.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Benchmark upped their price target on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Macquarie reissued an “outperform” rating and set a $150.00 target price (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Jefferies Financial Group increased their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Citigroup increased their target price on shares of AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

AppLovin Price Performance

APP opened at $158.95 on Tuesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin has a 52-week low of $34.45 and a 52-week high of $163.08. The company has a 50 day moving average of $113.67 and a two-hundred day moving average of $91.00. The company has a market cap of $52.30 billion, a P/E ratio of 94.61, a P/E/G ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, analysts expect that AppLovin will post 3.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction on Monday, August 12th. The shares were 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 owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction on Monday, August 12th. The shares were 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 owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raleigh Capital Management Inc. acquired a new position in AppLovin during the 3rd quarter worth about $29,000. Quest Partners LLC acquired a new position in AppLovin during the 2nd quarter worth about $33,000. Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin during the 2nd quarter worth about $34,000. Covestor Ltd lifted its position in AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after buying an additional 236 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in AppLovin during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.