AppLovin (NASDAQ:APP) PT Raised to $98.00 at Stifel Nicolaus

AppLovin (NASDAQ:APP) had its price target upped by equities researchers at Stifel Nicolaus from $85.00 to $98.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 19.37% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Daiwa Capital Markets began coverage on shares of AppLovin in a report on Monday, April 15th. They issued a “neutral” rating and a $80.00 target price for the company. UBS Group raised their price objective on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Oppenheimer raised their price objective on shares of AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. The Goldman Sachs Group raised their price objective on shares of AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wedbush raised their price objective on shares of AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $66.72.

AppLovin Stock Up 10.9 %

NASDAQ:APP traded up $8.10 during trading hours on Thursday, hitting $82.10. The company’s stock had a trading volume of 2,729,111 shares, compared to its average volume of 4,013,593. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $27.05 billion, a P/E ratio of 82.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.85. AppLovin has a 52-week low of $17.57 and a 52-week high of $85.40. The stock has a fifty day moving average of $69.60 and a 200-day moving average of $51.97.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $973.70 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm’s revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. On average, equities analysts forecast that AppLovin will post 2.54 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the transaction, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the transaction, the insider now owns 471,560 shares in the company, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. Insiders have sold a total of 61,215 shares of company stock worth $4,416,815 in the last quarter. 14.69% of the stock is owned by insiders.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in AppLovin by 535.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,287 shares of the company’s stock worth $12,826,000 after buying an additional 156,107 shares during the period. Jackson Square Partners LLC purchased a new stake in AppLovin during the 1st quarter worth $54,736,000. State Board of Administration of Florida Retirement System increased its stake in AppLovin by 5.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 213,250 shares of the company’s stock worth $14,761,000 after buying an additional 10,156 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in AppLovin during the 1st quarter worth $343,000. Finally, Bleakley Financial Group LLC purchased a new stake in AppLovin during the 1st quarter worth $258,000. 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.