JPMorgan Chase & Co. Raises AppLovin (NASDAQ:APP) Price Target to $325.00

AppLovin (NASDAQ:APP) had its price objective boosted by JPMorgan Chase & Co. from $200.00 to $325.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on the company. BTIG Research increased their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Stifel Nicolaus raised their target price on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Loop Capital upped their price target on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $337.71.

AppLovin Trading Down 3.3 %

AppLovin stock opened at $318.48 on Friday. AppLovin has a one year low of $39.43 and a one year high of $417.64. The stock has a market cap of $106.88 billion, a PE ratio of 96.51, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a 50-day moving average of $318.41 and a two-hundred day moving average of $181.16.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for 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 revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, research analysts anticipate that AppLovin will post 4.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently bought and sold shares of APP. Graypoint LLC acquired a new stake in AppLovin in the 4th quarter valued at about $369,000. HBW Advisory Services LLC acquired a new stake in AppLovin during the 4th quarter valued at $323,000. Fulton Bank N.A. increased its position in AppLovin by 12.1% during the fourth quarter. Fulton Bank N.A. now owns 8,429 shares of the company’s stock worth $2,730,000 after buying an additional 908 shares in the last quarter. Range Financial Group LLC acquired a new position in AppLovin in the 4th quarter valued at about $2,237,000. Finally, Diversified Trust Co boosted its stake in shares of AppLovin by 27.1% during the 4th quarter. Diversified Trust Co now owns 5,034 shares of the company’s stock worth $1,630,000 after purchasing an additional 1,072 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.