Analysts Set AppLovin Co. (NASDAQ:APP) Price Target at $452.29

AppLovin Co. (NASDAQ:APP) has been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $438.28.

APP has been the topic of a number of research reports. Benchmark upped their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Bank of America increased their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Citigroup increased their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler increased their target price on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 322,871 shares of company stock worth $111,401,882. Insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Several hedge funds have recently made changes to their positions in APP. FMR LLC boosted its stake in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. boosted its stake in shares of AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Norges Bank purchased a new stake in shares of AppLovin in the 4th quarter valued at $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of AppLovin by 457.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after purchasing an additional 2,373,885 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

AppLovin stock opened at $292.89 on Monday. The business’s fifty day moving average is $357.00 and its two-hundred day moving average is $266.70. The firm has a market cap of $99.57 billion, a P/E ratio of 64.51, a P/E/G ratio of 3.02 and a beta of 2.33. 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 has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities research analysts forecast that AppLovin will post 6.87 earnings per share for the current fiscal year.

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.