Wells Fargo & Company Initiates Coverage on AppLovin (NASDAQ:APP)

Wells Fargo & Company started coverage on shares of AppLovin (NASDAQ:APP) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $200.00 target price on the stock.

A number of other equities research analysts have also commented on the stock. Loop Capital assumed coverage on shares of AppLovin in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 price objective on the stock. Bank of America upped 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. Stifel Nicolaus increased their price target on AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Oppenheimer boosted their price objective on AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.78.

AppLovin Stock Down 0.3 %

Shares of APP opened at $171.65 on Monday. The company has a market capitalization of $57.37 billion, a PE ratio of 73.04, a PEG ratio of 2.07 and a beta of 1.92. The stock’s 50-day moving average price is $124.66 and its two-hundred day moving average price is $95.19. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin has a 12 month low of $35.79 and a 12 month high of $174.46.

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

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

A number of hedge funds have recently bought and sold shares of the business. Geneva Partners LLC purchased a new stake in AppLovin during the third quarter worth about $366,000. Moloney Securities Asset Management LLC purchased a new stake in shares of AppLovin during the 3rd quarter worth approximately $313,000. Quintet Private Bank Europe S.A. bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $509,000. QRG Capital Management Inc. lifted its stake in AppLovin by 166.0% in the third quarter. QRG Capital Management Inc. now owns 25,880 shares of the company’s stock valued at $3,379,000 after purchasing an additional 16,149 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in AppLovin by 13.0% in the third quarter. Asset Management One Co. Ltd. now owns 70,698 shares of the company’s stock valued at $9,230,000 after purchasing an additional 8,119 shares during the last quarter. 41.85% of the stock is currently 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.