AppLovin Co. (NASDAQ:APP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of AppLovin Co. (NASDAQ:APP) have received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $71.72.

A number of analysts have commented on the stock. BTIG Research increased their price target on shares of AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Oppenheimer reiterated an “outperform” rating and set a $97.00 price target on shares of AppLovin in a report on Thursday, June 13th. Wedbush upped their price objective on AppLovin from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. The Goldman Sachs Group lifted their target price on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Citigroup raised their price target on AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a report on Friday, May 10th.

AppLovin Price Performance

NASDAQ:APP opened at $83.68 on Wednesday. AppLovin has a 52-week low of $25.24 and a 52-week high of $88.50. The company has a market cap of $27.53 billion, a P/E ratio of 49.81, a P/E/G ratio of 1.41 and a beta of 1.86. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The stock’s 50-day simple moving average is $79.73 and its 200 day simple moving average is $63.91.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS. As a group, sell-side analysts forecast that AppLovin will post 2.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Mary Margaret Hasti Georgiadis sold 6,990 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $83.89, for a total value of $586,391.10. Following the completion of the transaction, the director now directly owns 34,178 shares in the company, valued at approximately $2,867,192.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the sale, the insider now directly owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. Insiders have sold a total of 17,741,886 shares of company stock worth $1,478,219,330 in the last quarter. Corporate insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC acquired a new position in AppLovin during the fourth quarter worth about $32,000. Covestor Ltd grew its holdings in shares of AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in AppLovin during the 1st quarter worth approximately $38,000. ORG Partners LLC lifted its stake in AppLovin by 212.0% in the 1st quarter. ORG Partners LLC now owns 624 shares of the company’s stock valued at $43,000 after purchasing an additional 424 shares during the last quarter. Finally, Quarry LP acquired a new stake in AppLovin in the fourth quarter valued at approximately $44,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.