Stifel Nicolaus Boosts AppLovin (NASDAQ:APP) Price Target to $185.00

AppLovin (NASDAQ:APP) had its target price hoisted by Stifel Nicolaus from $100.00 to $185.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

APP has been the topic of several other reports. BTIG Research increased their price objective on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Macquarie reaffirmed an “outperform” rating and issued a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Bank of America boosted their price objective on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Loop Capital assumed coverage on shares of AppLovin in a report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 target price on the stock. Finally, Citigroup boosted their price target on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $129.58.

AppLovin Stock Performance

NASDAQ APP opened at $161.63 on Wednesday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $53.18 billion, a P/E ratio of 96.21, a P/E/G ratio of 2.07 and a beta of 1.92. The stock has a 50-day moving average of $119.72 and a two-hundred day moving average of $93.23. AppLovin has a 1-year low of $34.45 and a 1-year high of $165.38.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. As a group, analysts anticipate that AppLovin will post 3.46 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several hedge funds have recently made changes to their positions in the business. DT Investment Partners LLC acquired a new position in AppLovin in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter valued at approximately $29,000. Quest Partners LLC acquired a new position in shares of AppLovin in the second quarter valued at approximately $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin during the second quarter worth approximately $34,000. Finally, Covestor Ltd lifted its holdings in shares of AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.