AppLovin (NASDAQ:APP) Given New $425.00 Price Target at Jefferies Financial Group

AppLovin (NASDAQ:APP) had its price objective lifted by Jefferies Financial Group from $400.00 to $425.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also commented on APP. JPMorgan Chase & Co. boosted their price objective on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Stifel Nicolaus boosted their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.71.

AppLovin Stock Performance

Shares of AppLovin stock opened at $318.48 on Wednesday. AppLovin has a one year low of $39.43 and a one year high of $417.64. The firm has a market capitalization of $106.88 billion, a price-to-earnings ratio of 96.51, a PEG ratio of 4.17 and a beta of 2.29. The business has a 50-day simple moving average of $318.41 and a 200 day simple moving average of $179.76. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last issued 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.30 EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. On average, research analysts anticipate that AppLovin will post 4.06 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently bought and sold shares of APP. TD Asset Management Inc increased its holdings in shares of AppLovin by 6.1% in the second quarter. TD Asset Management Inc now owns 13,735 shares of the company’s stock worth $1,143,000 after purchasing an additional 793 shares during the period. National Bank of Canada FI increased its holdings in shares of AppLovin by 77.2% in the second quarter. National Bank of Canada FI now owns 964 shares of the company’s stock worth $82,000 after purchasing an additional 420 shares during the period. Private Advisor Group LLC increased its holdings in shares of AppLovin by 98.6% in the second quarter. Private Advisor Group LLC now owns 7,144 shares of the company’s stock worth $595,000 after purchasing an additional 3,547 shares during the period. Acadian Asset Management LLC increased its holdings in shares of AppLovin by 21.1% in the second quarter. Acadian Asset Management LLC now owns 19,781 shares of the company’s stock worth $1,642,000 after purchasing an additional 3,442 shares during the period. Finally, Quest Partners LLC bought a new position in shares of AppLovin in the second quarter worth $33,000. Institutional investors own 41.85% of the company’s stock.

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.