AppLovin Co. (NASDAQ:APP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of AppLovin Co. (NASDAQ:APP) have been given an average recommendation of “Moderate Buy” by the nineteen research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $355.41.

APP has been the topic of several recent analyst reports. BTIG Research lifted their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group increased their price target on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday. Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Loop Capital upped their price target on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Wells Fargo & Company raised their price objective on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th.

AppLovin Trading Up 0.2 %

Shares of APP stock opened at $362.52 on Friday. 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 business has a 50-day moving average of $335.97 and a 200 day moving average of $195.69. The stock has a market capitalization of $121.66 billion, a PE ratio of 109.85, a P/E/G ratio of 2.77 and a beta of 2.29. AppLovin has a 1-year low of $40.71 and a 1-year high of $417.64.

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

Insider Activity

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares in the company, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 in the last 90 days. Company insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in shares of AppLovin during the 3rd quarter valued at approximately $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter worth about $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin in the third quarter worth about $29,000. Finally, Fifth Third Bancorp increased its stake in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Institutional investors 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.