AppLovin Co. (NASDAQ:APP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of AppLovin Co. (NASDAQ:APP) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $136.78.

APP has been the subject of a number of research reports. Benchmark increased their target price on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. Oppenheimer raised their price objective on shares of AppLovin from $105.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Loop Capital initiated coverage on AppLovin in a report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 target price for the company. Finally, BTIG Research boosted their price target on AppLovin from $150.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday, October 30th.

Insiders Place Their Bets

In other AppLovin news, 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 transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents 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 this hyperlink. In other news, CTO Vasily Shikin sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the completion of the sale, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred 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 transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock valued at $51,022,478 in the last 90 days. 14.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppLovin

Large investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the third quarter valued at $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at about $29,000. Quest Partners LLC bought a new position in AppLovin in the 2nd quarter valued at about $33,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in AppLovin during the second quarter worth approximately $34,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP stock opened at $159.11 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 12-month low of $35.79 and a 12-month high of $174.46. The firm has a fifty day moving average of $129.12 and a 200-day moving average of $97.33. The firm has a market capitalization of $53.18 billion, a price-to-earnings ratio of 67.71, a price-to-earnings-growth ratio of 2.44 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) 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 analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company’s revenue 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, equities research analysts forecast that AppLovin will post 3.47 earnings per share for the current 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.