AppLovin Co. (NASDAQ:APP) Receives $310.71 Consensus Price Target from Brokerages

AppLovin Co. (NASDAQ:APP) has received an average recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $310.71.

A number of brokerages recently commented on APP. BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Wedbush reiterated an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th.

Insider Activity

In other news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 over the last 90 days. 14.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in AppLovin in the third quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in AppLovin during the third quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the third quarter worth approximately $29,000. Finally, HM Payson & Co. boosted its stake in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 3.3 %

NASDAQ:APP opened at $335.17 on Wednesday. The firm has a market capitalization of $112.48 billion, a P/E ratio of 101.57, a P/E/G ratio of 4.17 and a beta of 2.28. AppLovin has a 52 week low of $37.40 and a 52 week high of $417.64. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a fifty day moving average of $284.48 and a 200 day moving average of $163.21.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. On average, research analysts predict that AppLovin will post 4.06 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.