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

AppLovin Co. (NYSE:APPGet Rating) has been given a consensus recommendation of “Buy” by the fifteen brokerages that are currently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued a report on the stock in the last year is $69.36.

Several brokerages have issued reports on APP. The Goldman Sachs Group cut their target price on AppLovin from $65.00 to $58.00 in a research note on Thursday, June 9th. Truist Financial cut their target price on AppLovin from $77.00 to $65.00 in a research note on Thursday, August 11th. Morgan Stanley cut their target price on AppLovin from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, June 13th. Stifel Nicolaus cut their target price on AppLovin from $80.00 to $50.00 in a research note on Wednesday, August 3rd. Finally, KeyCorp started coverage on AppLovin in a research note on Thursday, June 30th. They set an “overweight” rating and a $55.00 price objective for the company.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $26.59, for a total transaction of $598,275.00. Following the completion of the transaction, the chief technology officer now owns 2,644,535 shares in the company, valued at $70,318,185.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AppLovin news, Director Eduardo Vivas sold 106,762 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $34.05, for a total value of $3,635,246.10. Following the completion of the transaction, the director now owns 10,781,081 shares in the company, valued at $367,095,808.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 22,500 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $26.59, for a total value of $598,275.00. Following the completion of the transaction, the chief technology officer now owns 2,644,535 shares of the company’s stock, valued at approximately $70,318,185.65. The disclosure for this sale can be found here. 12.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL raised its holdings in AppLovin by 5.4% in the first quarter. Blair William & Co. IL now owns 7,552 shares of the company’s stock worth $416,000 after purchasing an additional 386 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in AppLovin by 99.0% in the first quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock worth $54,000 after purchasing an additional 488 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of AppLovin by 55.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,925 shares of the company’s stock worth $182,000 after acquiring an additional 684 shares during the last quarter. Cinctive Capital Management LP grew its stake in shares of AppLovin by 7.6% in the fourth quarter. Cinctive Capital Management LP now owns 11,350 shares of the company’s stock worth $1,070,000 after acquiring an additional 800 shares during the last quarter. Finally, Cohen Capital Management Inc. grew its stake in shares of AppLovin by 1.6% in the second quarter. Cohen Capital Management Inc. now owns 51,521 shares of the company’s stock worth $1,774,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 37.23% of the company’s stock.

AppLovin Stock Down 2.9 %

Shares of NYSE APP opened at $21.14 on Thursday. AppLovin has a 12 month low of $21.11 and a 12 month high of $116.09. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of -72.89, a PEG ratio of 4.96 and a beta of 2.34. The business has a 50-day moving average of $30.23 and a 200-day moving average of $37.99.

AppLovin (NYSE:APPGet Rating) last issued its quarterly earnings data on Wednesday, August 10th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.21). AppLovin had a positive return on equity of 3.82% and a negative net margin of 3.61%. The business had revenue of $776.23 million for the quarter, compared to analysts’ expectations of $827.75 million. During the same period in the previous year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts expect that AppLovin will post 0.23 earnings per share for the current fiscal year.

AppLovin Company Profile

(Get Rating)

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.

Recommended Stories

Analyst Recommendations for AppLovin (NYSE:APP)

Receive News & Ratings for AppLovin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppLovin and related companies with MarketBeat.com's FREE daily email newsletter.