AppLovin Co. (NASDAQ:APP) Receives Average Rating of “Moderate Buy” from Analysts

AppLovin Co. (NASDAQ:APP) has been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $338.06.

A number of brokerages have recently issued reports on APP. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Citigroup upped their price target on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Benchmark began coverage on shares of AppLovin in a research report on Friday, January 10th. They issued a “buy” rating and a $375.00 price objective for the company. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and upped their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. Finally, Loop Capital lifted their price target on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the transaction, the director now owns 6,684 shares in the company, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of 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 have sold a total of 888,867 shares of company stock valued at $284,773,062 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of APP. National Bank of Canada FI boosted its position in shares of AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares in the last quarter. Versant Capital Management Inc lifted its stake in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after purchasing an additional 60 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of AppLovin by 54.7% in the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock valued at $70,000 after purchasing an additional 76 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after buying an additional 89 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 3.1 %

NASDAQ:APP opened at $342.34 on Friday. The stock has a 50-day simple moving average of $330.75 and a 200 day simple moving average of $189.06. AppLovin has a 52-week low of $40.71 and a 52-week high of $417.64. The company has a market cap of $114.89 billion, a PE ratio of 103.74, a PEG ratio of 2.68 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.

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