JPMorgan Chase & Co. Raises AppLovin (NASDAQ:APP) Price Target to $325.00

AppLovin (NASDAQ:APP) had its price objective upped by research analysts at JPMorgan Chase & Co. from $200.00 to $325.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 3.93% from the stock’s current price.

APP has been the subject of several other research reports. Wedbush restated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. 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. Stifel Nicolaus lifted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Macquarie raised their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Benchmark assumed coverage on AppLovin in a research note on Friday. They issued a “buy” rating and a $375.00 price objective for the company. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $337.71.

AppLovin Stock Down 5.0 %

Shares of APP stock traded down $16.50 during trading on Friday, reaching $312.70. The company’s stock had a trading volume of 1,780,958 shares, compared to its average volume of 4,244,680. The company has a market capitalization of $104.94 billion, a price-to-earnings ratio of 94.76, a P/E/G ratio of 4.17 and a beta of 2.29. AppLovin has a 1-year low of $39.43 and a 1-year high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s 50-day moving average price is $315.31 and its 200 day moving average price is $178.09.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business earned $0.30 EPS. AppLovin’s revenue was up 38.6% on a year-over-year basis. On average, research analysts anticipate that AppLovin will post 4.06 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently bought and sold shares of APP. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the third quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the 3rd quarter worth about $27,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter valued at about $29,000. Finally, HM Payson & Co. grew its stake in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.