Stifel Nicolaus Trims AppLovin (NYSE:APP) Target Price to $50.00

Posted by MarketBeat News on Aug 6th, 2022

AppLovin (NYSE:APP – Get Rating) had its price objective cut by Stifel Nicolaus from $80.00 to $50.00 in a research report report published on Wednesday morning, The Fly reports.

APP has been the topic of a number of other research reports. Oppenheimer dropped their price objective on AppLovin from $100.00 to $74.00 and set an outperform rating on the stock in a report on Thursday, May 12th. BTIG Research lowered their target price on AppLovin from $103.00 to $60.00 in a report on Thursday, May 12th. Citigroup lowered their target price on AppLovin from $68.00 to $62.00 and set a buy rating on the stock in a report on Thursday, July 7th. Morgan Stanley lowered their target price on AppLovin from $70.00 to $65.00 and set an overweight rating on the stock in a report on Monday, June 13th. Finally, KeyCorp started coverage on AppLovin in a report on Thursday, June 30th. They issued an overweight rating and a $55.00 target price on the stock. Fifteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $77.07.

AppLovin Trading Up 1.3 %

Shares of APP stock opened at $36.46 on Wednesday. The business’s fifty day moving average price is $36.27 and its 200 day moving average price is $46.66. AppLovin has a 1-year low of $27.04 and a 1-year high of $116.09. The firm has a market capitalization of $13.70 billion, a PE ratio of -191.89, a P/E/G ratio of 4.71 and a beta of 2.14. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.93 and a quick ratio of 2.93.

AppLovin (NYSE:APP – Get Rating) last announced its quarterly earnings data on Wednesday, May 11th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.21. AppLovin had a positive return on equity of 5.49% and a negative net margin of 2.50%. The firm had revenue of $625.42 million for the quarter, compared to analyst estimates of $827.04 million. As a group, sell-side analysts forecast that AppLovin will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CMO Katie Kihorany Jansen sold 2,009 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $40.10, for a total transaction of $80,560.90. Following the transaction, the chief marketing officer now directly owns 1,328,491 shares in the company, valued at $53,272,489.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AppLovin news, CTO Vasily Shikin sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $34.86, for a total transaction of $784,350.00. Following the completion of the sale, the chief technology officer now directly owns 2,667,035 shares in the company, valued at $92,972,840.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Katie Kihorany Jansen sold 2,009 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $40.10, for a total value of $80,560.90. Following the sale, the chief marketing officer now owns 1,328,491 shares of the company’s stock, valued at $53,272,489.10. The disclosure for this sale can be found here. 12.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in APP. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in AppLovin during the second quarter worth about $52,000. US Bancorp DE grew its stake in shares of AppLovin by 1,467.0% in the second quarter. US Bancorp DE now owns 1,567 shares of the company’s stock valued at $54,000 after buying an additional 1,467 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of AppLovin by 99.0% in the first quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock valued at $54,000 after buying an additional 488 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of AppLovin in the first quarter valued at about $74,000. Finally, Covestor Ltd acquired a new stake in shares of AppLovin in the first quarter valued at about $116,000. 43.30% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Company Profile

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AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction.