Weekly Analysts’ Ratings Updates for AppLovin (APP)

A number of research firms have changed their ratings and price targets for AppLovin (NASDAQ: APP):

• 9/25/2024 – AppLovin had its “outperform” rating reaffirmed by analysts at Macquarie. They now have a $150.00 price target on the stock, up previously from $115.00.
• 9/19/2024 – AppLovin had its price target raised by analysts at Citigroup Inc. from $110.00 to $155.00. They now have a “buy” rating on the stock.
• 9/17/2024 – AppLovin was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $145.00 price target on the stock, up previously from $100.00.
• 9/13/2024 – AppLovin had its price target raised by analysts at BTIG Research from $114.00 to $150.00. They now have a “buy” rating on the stock.
• 9/11/2024 – AppLovin had its price target raised by analysts at Bank of America Co. from $100.00 to $120.00. They now have a “buy” rating on the stock.
• 9/10/2024 – AppLovin had its price target raised by analysts at Jefferies Financial Group Inc. from $105.00 to $108.00. They now have a “buy” rating on the stock.
• 8/23/2024 – AppLovin had its price target raised by analysts at Benchmark Co. from $48.00 to $66.00. They now have a “sell” rating on the stock.
• 8/8/2024 – AppLovin had its price target lowered by analysts at Wedbush from $100.00 to $90.00. They now have an “outperform” rating on the stock.
• 8/8/2024 – AppLovin had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $105.00 price target on the stock, up previously from $97.00.

AppLovin Price Performance

Shares of APP opened at $130.55 on Tuesday. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $133.05. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a fifty day moving average price of $93.36 and a 200 day moving average price of $83.34. The company has a market cap of $42.95 billion, a P/E ratio of 77.71, a PEG ratio of 1.82 and a beta of 1.88.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (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 firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $0.22 EPS. AppLovin’s revenue was up 44.0% on a year-over-year basis. On average, research analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the transaction, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the sale, the chief financial officer now directly owns 254,458 shares in the company, valued at $20,262,490.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 229,200 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The disclosure for this sale can be found here. Insiders sold 728,933 shares of company stock valued at $61,807,117 over the last 90 days. 14.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppLovin

Large investors have recently modified their holdings of the stock. American Trust raised its holdings in AppLovin by 44.7% during the 2nd quarter. American Trust now owns 8,030 shares of the company’s stock worth $668,000 after buying an additional 2,480 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of AppLovin during the second quarter valued at approximately $241,000. Clearbridge Investments LLC lifted its position in shares of AppLovin by 73.0% in the 2nd quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock valued at $74,344,000 after acquiring an additional 376,835 shares in the last quarter. Dana Investment Advisors Inc. boosted its stake in AppLovin by 5.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 11,438 shares of the company’s stock worth $952,000 after purchasing an additional 604 shares during the period. Finally, Cetera Investment Advisers boosted its stake in AppLovin by 115.3% in the 2nd quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock worth $2,548,000 after purchasing an additional 16,397 shares during the period. 41.85% of the stock is owned by institutional investors.

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.