AppLovin (NASDAQ:APP) Given New $480.00 Price Target at Oppenheimer

AppLovin (NASDAQ:APP) had its price objective increased by Oppenheimer from $260.00 to $480.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

APP has been the topic of a number of other research reports. Wells Fargo & Company raised their price target on AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Citigroup boosted their target price on AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Macquarie lifted their price target on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Benchmark restated a “sell” rating and issued a $66.00 price objective on shares of AppLovin in a report on Thursday, November 7th. Finally, Piper Sandler started coverage on shares of AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.34.

AppLovin Stock Down 4.1 %

Shares of NASDAQ APP opened at $319.59 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a 50-day moving average of $185.37 and a 200-day moving average of $119.37. The firm has a market capitalization of $107.25 billion, a price-to-earnings ratio of 96.85, a PEG ratio of 4.11 and a beta of 1.86. AppLovin has a 12 month low of $35.79 and a 12 month high of $344.77.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 26.85% and a return on equity of 122.24%. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. Sell-side analysts expect that AppLovin will post 4.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now owns 213,336 shares of the company’s stock, valued at approximately $70,970,487.12. The trade was a 9.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the completion of the transaction, the director now directly owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. The trade was a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 854,065 shares of company stock valued at $233,072,408. Company insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently added to or reduced their stakes in APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the 3rd quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the 3rd quarter valued at about $27,000. DT Investment Partners LLC purchased a new stake in AppLovin in the third quarter worth about $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin during the third quarter valued at approximately $29,000. Finally, HM Payson & Co. increased its stake in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. 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.