AppLovin (NASDAQ:APP) Earns Neutral Rating from Analysts at Daiwa Capital Markets

Daiwa Capital Markets began coverage on shares of AppLovin (NASDAQ:APP) in a report issued on Monday morning, MarketBeat reports. The firm issued a neutral rating and a $80.00 price objective on the stock.

A number of other research firms have also weighed in on APP. The Goldman Sachs Group upped their price objective on AppLovin from $59.00 to $73.00 and gave the stock a buy rating in a research note on Thursday, February 15th. TheStreet raised AppLovin from a d+ rating to a c- rating in a research note on Friday, March 8th. BTIG Research upped their price objective on AppLovin from $65.00 to $87.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. UBS Group upped their price objective on AppLovin from $46.00 to $55.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Finally, Oppenheimer upped their price objective on AppLovin from $70.00 to $85.00 and gave the stock an outperform rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, AppLovin has an average rating of Moderate Buy and a consensus target price of $59.31.

AppLovin Stock Performance

Shares of APP opened at $70.90 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The business has a 50-day simple moving average of $64.40 and a two-hundred day simple moving average of $48.60. The stock has a market cap of $24.25 billion, a price-to-earnings ratio of 70.90, a PEG ratio of 1.44 and a beta of 1.90. AppLovin has a 52 week low of $15.41 and a 52 week high of $79.55.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The business had revenue of $953.26 million during the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.21) earnings per share. On average, analysts expect that AppLovin will post 2.47 EPS for the current year.

Insider Activity

In other news, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now directly owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the sale, the director now directly owns 12,739 shares in the company, valued at $743,065.87. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now owns 471,560 shares in the company, valued at $35,371,715.60. The disclosure for this sale can be found here. Insiders sold 61,215 shares of company stock valued at $4,416,815 in the last ninety days. Insiders own 12.43% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently modified their holdings of APP. JPMorgan Chase & Co. raised its holdings in shares of AppLovin by 99.0% in the first quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock worth $54,000 after buying an additional 488 shares during the period. Raymond James & Associates increased its holdings in AppLovin by 109.0% during the 1st quarter. Raymond James & Associates now owns 57,743 shares of the company’s stock worth $3,180,000 after purchasing an additional 30,112 shares during the period. Bank of New York Mellon Corp increased its holdings in AppLovin by 21.6% during the 1st quarter. Bank of New York Mellon Corp now owns 39,124 shares of the company’s stock worth $2,155,000 after purchasing an additional 6,942 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in AppLovin by 43.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,425 shares of the company’s stock worth $519,000 after purchasing an additional 2,858 shares during the period. Finally, Citigroup Inc. increased its holdings in AppLovin by 802.0% during the 1st quarter. Citigroup Inc. now owns 22,749 shares of the company’s stock worth $1,253,000 after purchasing an additional 20,227 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.