Benchmark Reaffirms Sell Rating for AppLovin (NASDAQ:APP)

Benchmark reissued their sell rating on shares of AppLovin (NASDAQ:APP) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $66.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Macquarie restated an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday. Wedbush raised AppLovin to a “strong-buy” rating in a report on Monday, November 4th. Finally, Citigroup boosted their price target on AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $182.31.

AppLovin Stock Performance

NASDAQ APP opened at $290.01 on Thursday. The company’s fifty day moving average is $139.27 and its two-hundred day moving average is $101.29. The firm has a market capitalization of $96.94 billion, a price-to-earnings ratio of 87.88, a P/E/G ratio of 2.43 and a beta of 1.86. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin has a 52-week low of $35.79 and a 52-week high of $292.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.06% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. Equities research analysts forecast that AppLovin will post 3.47 EPS for the current year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Victoria Valenzuela sold 14,166 shares of the firm’s 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 sale, the insider now owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in AppLovin in the 3rd quarter valued at $25,000. DT Investment Partners LLC acquired a new position in AppLovin during the third quarter worth $27,000. Meeder Asset Management Inc. bought a new position in AppLovin in the third quarter valued at $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the 3rd quarter valued at about $29,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin in the second quarter valued at about $33,000. 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.