AppLovin (NASDAQ:APP) Price Target Raised to $185.00 at Stifel Nicolaus

AppLovin (NASDAQ:APP) had its target price raised by Stifel Nicolaus from $100.00 to $185.00 in a report published on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

APP has been the topic of a number of other research reports. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Bank of America raised their price target on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Wedbush dropped their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Oppenheimer raised their price target on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Loop Capital began coverage on shares of AppLovin in a research report on Tuesday. They issued a “buy” rating and a $181.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $129.58.

AppLovin Stock Performance

Shares of AppLovin stock opened at $161.63 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The business has a 50-day moving average price of $119.72 and a two-hundred day moving average price of $93.11. AppLovin has a 1-year low of $34.45 and a 1-year high of $165.38. The company has a market cap of $53.18 billion, a P/E ratio of 96.21, a PEG ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.22 EPS. The business’s revenue was up 44.0% compared to the same quarter last year. As a group, analysts anticipate that AppLovin will post 3.46 EPS for the current year.

Insider Activity

In other news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock valued at $51,022,478 over the last three months. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Direct Indexing L.P. bought a new position in AppLovin during the third quarter valued at $296,000. New York State Teachers Retirement System grew its holdings in AppLovin by 97.8% during the third quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock valued at $1,939,000 after purchasing an additional 7,342 shares during the period. Bay Rivers Group bought a new position in AppLovin during the third quarter valued at $447,000. Strategic Blueprint LLC lifted its position in shares of AppLovin by 13.9% during the third quarter. Strategic Blueprint LLC now owns 3,140 shares of the company’s stock worth $410,000 after acquiring an additional 383 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its position in shares of AppLovin by 32.6% during the third quarter. Diversify Advisory Services LLC now owns 15,549 shares of the company’s stock worth $2,030,000 after acquiring an additional 3,823 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

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.