Stifel Nicolaus Boosts AppLovin (NASDAQ:APP) Price Target to $250.00

AppLovin (NASDAQ:APP) had its price objective hoisted by Stifel Nicolaus from $185.00 to $250.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on APP. Jefferies Financial Group upped their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research note on Thursday. Oppenheimer upped their target price on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company assumed coverage on shares of AppLovin in a report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price objective on the stock. Finally, UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their target price for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $182.31.

AppLovin Stock Performance

NASDAQ:APP opened at $290.01 on Thursday. The company has a market cap of $96.94 billion, a P/E ratio of 87.88, a P/E/G ratio of 2.43 and a beta of 1.86. AppLovin has a twelve month low of $35.79 and a twelve month high of $292.86. The company’s 50-day moving average price is $139.27 and its 200-day moving average price is $101.29. 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 (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.06%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted $0.30 EPS. The business’s revenue was up 38.6% on a year-over-year basis. On average, sell-side analysts forecast that AppLovin will post 3.47 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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 Investors Weigh In On AppLovin

Institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,099 shares during the last quarter. Nordea Investment Management AB acquired a new position in AppLovin during the first quarter worth about $623,000. ORG Partners LLC lifted its holdings in shares of AppLovin by 212.0% in the first quarter. ORG Partners LLC now owns 624 shares of the company’s stock valued at $43,000 after purchasing an additional 424 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of AppLovin in the first quarter valued at about $1,235,000. Finally, SG Americas Securities LLC grew its position in shares of AppLovin by 33.5% in the first quarter. SG Americas Securities LLC now owns 4,100 shares of the company’s stock valued at $284,000 after purchasing an additional 1,028 shares during the last quarter. Institutional investors and hedge funds 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.