AppLovin (NASDAQ:APP) PT Raised to $108.00 at Jefferies Financial Group

AppLovin (NASDAQ:APP) had its target price boosted by analysts at Jefferies Financial Group from $105.00 to $108.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 10.69% from the company’s previous close.

A number of other analysts have also issued reports on APP. Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Wedbush lowered their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price objective (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.94.

AppLovin Trading Up 13.2 %

Shares of AppLovin stock opened at $97.57 on Tuesday. The stock has a market capitalization of $32.10 billion, a P/E ratio of 58.08, a P/E/G ratio of 1.22 and a beta of 1.88. AppLovin has a 52-week low of $34.45 and a 52-week high of $98.10. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The stock’s 50-day simple moving average is $83.19 and its 200 day simple moving average is $77.55.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $0.22 EPS. AppLovin’s revenue was up 44.0% compared to the same quarter last year. As a group, research analysts anticipate that AppLovin will post 3.48 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of AppLovin stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the sale, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the sale, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold a total of 774,434 shares of company stock valued at $65,673,172 over the last 90 days. 14.69% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Precision Wealth Strategies LLC bought a new stake in AppLovin in the fourth quarter valued at approximately $324,000. Charles Schwab Investment Management Inc. raised its holdings in AppLovin by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,695 shares of the company’s stock valued at $40,715,000 after buying an additional 31,773 shares during the last quarter. Teacher Retirement System of Texas boosted its position in AppLovin by 15.9% during the 4th quarter. Teacher Retirement System of Texas now owns 62,527 shares of the company’s stock valued at $2,492,000 after buying an additional 8,594 shares during the period. Dana Investment Advisors Inc. bought a new stake in AppLovin in the 4th quarter worth $259,000. Finally, QRG Capital Management Inc. purchased a new position in shares of AppLovin in the fourth quarter valued at about $290,000. Institutional investors own 41.85% of the company’s stock.

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.