AppLovin Co. (NASDAQ:APP) Given Average Recommendation of “Moderate Buy” by Brokerages

AppLovin Co. (NASDAQ:APP) has earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $310.71.

A number of research firms recently weighed in on APP. Loop Capital boosted their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Bank of America lifted their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Citigroup increased their price target on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Macquarie lifted their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th.

AppLovin Stock Down 0.9 %

NASDAQ APP opened at $341.83 on Wednesday. The stock has a market capitalization of $114.72 billion, a P/E ratio of 103.59, a price-to-earnings-growth 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 debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a fifty day moving average of $268.71 and a 200-day moving average of $155.82.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. On average, equities research analysts forecast that AppLovin will post 4.06 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares in the company, valued at approximately $76,032,757.84. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Large investors have recently modified their holdings of the business. WCM Investment Management LLC grew its stake in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. FMR LLC grew its position in shares of AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Lone Pine Capital LLC increased its stake 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 worth $474,557,000 after purchasing an additional 382,767 shares during the last quarter. State Street Corp lifted its stake in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after purchasing an additional 449,241 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.