AppLovin (NASDAQ:APP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

AppLovin (NASDAQ:APP) had its price target lifted by Wells Fargo & Company from $360.00 to $366.00 in a research note published on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the stock. Citigroup lifted their price objective on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Loop Capital raised their price objective on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. Jefferies Financial Group upped their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $338.06.

AppLovin Price Performance

Shares of NASDAQ APP opened at $315.68 on Monday. The stock’s 50-day simple moving average is $321.54 and its two-hundred day simple moving average is $182.80. AppLovin has a twelve month low of $39.43 and a twelve month high of $417.64. The firm has a market capitalization of $105.94 billion, a P/E ratio of 95.66, a P/E/G ratio of 4.17 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business earned $0.30 earnings per share. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, equities analysts anticipate that AppLovin will post 4.06 EPS 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 transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 in the last 90 days. Company insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Townsquare Capital LLC boosted its stake in AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after acquiring an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $224,000. State Street Corp grew its stake in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the last quarter. Eagle Asset Management Inc. increased its position in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after buying an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management raised its stake in AppLovin by 328.1% during the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after buying an additional 81,331 shares during the last quarter. 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.