Jefferies Financial Group Boosts AppLovin (NASDAQ:APP) Price Target to $400.00

AppLovin (NASDAQ:APP) had its price objective upped by equities research analysts at Jefferies Financial Group from $270.00 to $400.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 21.74% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Wells Fargo & Company upped their target price on AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Loop Capital boosted their price target on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Benchmark reiterated a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Stock Down 0.4 %

Shares of AppLovin stock opened at $328.56 on Tuesday. AppLovin has a one year low of $35.79 and a one year high of $344.77. The company has a market cap of $110.26 billion, a P/E ratio of 99.56, a PEG ratio of 3.94 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a fifty day moving average of $189.49 and a two-hundred day moving average of $121.08.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company earned $0.30 earnings per share. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, analysts forecast that AppLovin will post 4.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 154,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the transaction, the chief technology officer now owns 4,530,455 shares in the company, valued at $381,192,483.70. This represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares in the company, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 854,065 shares of company stock valued at $233,072,408 over the last three months. Company insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APP. Capital Performance Advisors LLP purchased a new position in AppLovin during the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the third quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new position in shares of AppLovin during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin during the third quarter worth $29,000. Finally, HM Payson & Co. grew its stake in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.