Phillip Securities upgraded shares of AppLovin (NASDAQ:APP – Free Report) to a moderate buy rating in a research report report published on Monday morning,Zacks.com reports.
A number of other equities analysts have also weighed in on APP. UBS Group lifted their price objective on AppLovin from $540.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Tuesday, August 26th. Wells Fargo & Company lifted their price target on AppLovin from $480.00 to $491.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Jefferies Financial Group boosted their price target on AppLovin from $560.00 to $615.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, Scotiabank restated an “outperform” rating on shares of AppLovin in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $578.86.
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AppLovin Price Performance
Shares of NASDAQ:APP opened at $704.09 on Monday. AppLovin has a twelve month low of $128.50 and a twelve month high of $745.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market cap of $238.16 billion, a PE ratio of 100.01, a price-to-earnings-growth ratio of 3.94 and a beta of 2.52. The company’s 50 day moving average is $501.73 and its 200 day moving average is $385.43.
AppLovin (NASDAQ:APP – Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. On average, sell-side analysts forecast that AppLovin will post 6.87 EPS for the current year.
Insider Activity
In other news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $432.49, for a total value of $86,498,000.00. Following the sale, the director owned 181,929 shares in the company, valued at $78,682,473.21. This trade represents a 52.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 30,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. Insiders own 13.66% of the company’s stock.
Institutional Investors Weigh In On AppLovin
Several large investors have recently bought and sold shares of APP. Hilltop National Bank acquired a new stake in shares of AppLovin in the second quarter worth approximately $26,000. LFA Lugano Financial Advisors SA acquired a new position in AppLovin in the 2nd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in AppLovin in the 2nd quarter valued at $33,000. Atala Financial Inc purchased a new position in AppLovin in the 1st quarter valued at $26,000. Finally, Hoey Investments Inc. acquired a new stake in AppLovin during the 2nd quarter worth $35,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.
AppLovin Company Profile
(Get Free Report)
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.
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