AppLovin (NASDAQ:APP) Upgraded by Wedbush to Strong-Buy Rating

Wedbush upgraded shares of AppLovin (NASDAQ:APP) to a strong-buy rating in a research note released on Monday, Zacks.com reports.

Several other equities analysts have also recently weighed in on APP. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. BTIG Research raised their price target on shares of AppLovin from $150.00 to $202.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price target on AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.78.

AppLovin Price Performance

Shares of NASDAQ APP opened at $159.11 on Monday. AppLovin has a twelve month low of $35.79 and a twelve month high of $174.46. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm has a 50-day moving average of $129.12 and a two-hundred day moving average of $97.33. The company has a market capitalization of $53.18 billion, a price-to-earnings ratio of 67.71, a PEG ratio of 2.44 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.22 earnings per share. The firm’s quarterly revenue was up 44.0% compared to the same quarter last year. As a group, analysts expect that AppLovin will post 3.47 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction dated 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 transaction, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The trade was 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 over the last ninety days. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several large investors have recently modified their holdings of the stock. HM Payson & Co. grew its holdings in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Ashton Thomas Securities LLC lifted its position in AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after purchasing an additional 121 shares during the last quarter. GAMMA Investing LLC increased its position in shares of AppLovin by 8.2% in the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares during the period. American Trust lifted its holdings in AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after buying an additional 150 shares during the period. Finally, Highland Capital Management LLC boosted its stake in shares of AppLovin by 0.5% during the 1st quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock valued at $1,946,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other 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.