AppLovin (NASDAQ:APP) Now Covered by Analysts at Benchmark

Benchmark started coverage on shares of AppLovin (NASDAQ:APP) in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $375.00 price objective on the stock.

Several other research firms also recently commented on APP. Piper Sandler started coverage on AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. Bank of America raised their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Wells Fargo & Company upped their price objective on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $337.71.

AppLovin Stock Performance

NASDAQ APP opened at $318.48 on Friday. The stock 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 stock has a 50-day moving average of $318.41 and a 200 day moving average of $179.76. 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 twelve month low of $39.43 and a twelve month high of $417.64.

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

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This represents a 6.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’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 completion of the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 in the last three months. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in shares of AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin in the third quarter valued at $29,000. Finally, Quest Partners LLC acquired a new position in AppLovin in the second quarter valued at $33,000. Institutional investors and hedge funds 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.