AppLovin Co. (NASDAQ:APP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of AppLovin Co. (NASDAQ:APP) have been assigned a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $265.57.

APP has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on AppLovin from $260.00 to $480.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Benchmark restated a “sell” rating and issued a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. Macquarie raised their target price on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 30,330 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total value of $10,029,221.10. Following the transaction, the director now owns 90,576 shares of the company’s stock, valued at approximately $29,950,765.92. This represents a 25.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 884,395 shares of company stock valued at $243,101,629 over the last quarter. 14.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of AppLovin during the third quarter worth $25,000. DT Investment Partners LLC purchased a new position in shares of AppLovin during the third quarter worth $27,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin during the third quarter worth $29,000. Finally, Quest Partners LLC purchased a new position in shares of AppLovin during the second quarter worth $33,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of APP stock opened at $336.75 on Friday. The company has a market capitalization of $113.01 billion, a P/E ratio of 102.05, a P/E/G ratio of 4.05 and a beta of 1.86. The business’s 50 day moving average is $197.69 and its two-hundred day moving average is $123.96. 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 $344.77.

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

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.