AppLovin (NASDAQ:APP) Price Target Raised to $202.00

AppLovin (NASDAQ:APP) had its price target raised by BTIG Research from $150.00 to $202.00 in a report released on Wednesday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other research firms have also weighed in on APP. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and upped their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Oppenheimer raised their price objective on AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. 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 note on Wednesday, September 11th. JPMorgan Chase & Co. increased their price target 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. Finally, Stifel Nicolaus lifted their price objective on shares of AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $136.78.

AppLovin Stock Down 3.5 %

Shares of NASDAQ APP opened at $163.53 on Wednesday. AppLovin has a 52-week low of $35.79 and a 52-week high of $174.46. The firm has a market capitalization of $54.66 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 2.47 and a beta of 1.92. The stock has a 50 day moving average price of $127.73 and a 200 day moving average price of $96.34. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. The business 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 business’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. Sell-side analysts expect that AppLovin will post 3.47 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the transaction, the director now directly owns 10,247 shares in the company, 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 accessible through this hyperlink. Also, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 254,458 shares in the company, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock worth $51,022,478 over the last three months. 14.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of APP. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after acquiring an additional 248,022 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after purchasing an additional 15,590 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in AppLovin by 167.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after purchasing an additional 10,099 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of AppLovin by 73.0% during the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock worth $74,344,000 after buying an additional 376,835 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE acquired a new stake in shares of AppLovin in the third quarter valued at about $7,086,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.