AppLovin (NASDAQ:APP) Price Target Raised to $385.00

AppLovin (NASDAQ:APP) had its price objective upped by Loop Capital from $181.00 to $385.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also commented on APP. Stifel Nicolaus raised their price target on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Citigroup raised their price objective on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America upped their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, BTIG Research increased their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.31.

AppLovin Trading Down 1.8 %

Shares of AppLovin stock opened at $283.96 on Monday. The stock has a market cap of $94.91 billion, a price-to-earnings ratio of 85.84, a PEG ratio of 3.56 and a beta of 1.86. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 12-month low of $35.79 and a 12-month high of $292.86. The company has a fifty day simple moving average of $147.16 and a 200-day simple moving average of $104.56.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, equities analysts forecast that AppLovin will post 4.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction of $1,274,656.68. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the sale, the director now owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the business’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 completion of the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,866 shares of company stock worth $34,670,777 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Hedge funds have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. raised its position in shares of AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after buying an additional 60 shares in the last quarter. HM Payson & Co. lifted its position in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of AppLovin by 0.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after purchasing an additional 104 shares in the last quarter. Ashton Thomas Securities LLC increased its position in shares of AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after purchasing an additional 121 shares during the period. Finally, GAMMA Investing LLC raised its stake in AppLovin by 8.2% in the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after purchasing an additional 126 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

About AppLovin

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.