AppLovin (NASDAQ:APP) Given New $385.00 Price Target at Loop Capital

AppLovin (NASDAQ:APP) had its price objective increased by equities research analysts at Loop Capital from $181.00 to $385.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s target price would suggest a potential upside of 33.20% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Macquarie increased their target price on AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Bank of America lifted their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. BTIG Research upped their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup increased their target price on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.31.

AppLovin Stock Performance

Shares of AppLovin stock opened at $289.03 on Monday. AppLovin has a 12 month low of $35.79 and a 12 month high of $292.86. The company has a current ratio of 2.41, a quick ratio of 2.28 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $96.61 billion, a PE ratio of 87.59, a PEG ratio of 4.18 and a beta of 1.86. The stock’s fifty day simple moving average is $143.14 and its 200 day simple moving average is $103.05.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. On average, research analysts predict that AppLovin will post 3.98 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Eduardo Vivas sold 229,200 shares of AppLovin 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 sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 404,866 shares of company stock worth $34,670,777. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Institutional investors have recently modified their holdings of the business. WCM Investment Management LLC grew its position in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. Lone Pine Capital LLC lifted its position in shares of AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after acquiring an additional 382,767 shares during the period. Jericho Capital Asset Management L.P. increased its position in shares of AppLovin by 185.0% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after purchasing an additional 2,525,240 shares during the period. Fred Alger Management LLC bought a new stake in AppLovin during the second quarter worth about $290,655,000. Finally, Whale Rock Capital Management LLC acquired a new position in shares of AppLovin in the 1st quarter valued at approximately $195,129,000. Institutional investors 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.