AppLovin (NYSE:APP) PT Lowered to $15.00

AppLovin (NYSE:APP – Get Rating) had its price objective cut by research analysts at Morgan Stanley from $20.00 to $15.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 47.35% from the company’s current price.

Other equities analysts have also issued research reports about the company. Bank of America lowered AppLovin from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $17.00 in a research note on Friday, November 11th. Credit Suisse Group decreased their target price on AppLovin from $63.00 to $57.00 and set an “outperform” rating on the stock in a research report on Thursday, November 10th. Jefferies Financial Group began coverage on shares of AppLovin in a report on Wednesday, November 30th. They issued a “hold” rating and a $14.00 price target for the company. Benchmark initiated coverage on shares of AppLovin in a report on Wednesday, January 4th. They set a “sell” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of AppLovin in a research note on Thursday, November 17th. They set a “neutral” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.13.

AppLovin Stock Down 4.9 %

AppLovin stock opened at $10.18 on Wednesday. AppLovin has a 52 week low of $9.14 and a 52 week high of $76.38. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -44.26, a price-to-earnings-growth ratio of 1.89 and a beta of 1.76. The business’s 50-day moving average price is $11.66 and its 200 day moving average price is $21.05. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 1.69.

AppLovin (NYSE:APP – Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). AppLovin had a positive return on equity of 5.09% and a negative net margin of 2.82%. The firm had revenue of $713.10 million for the quarter, compared to analyst estimates of $732.79 million. As a group, sell-side analysts anticipate that AppLovin will post -0.25 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 379,088 shares of the company’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $13.65, for a total value of $5,174,551.20. Following the completion of the sale, the chief technology officer now directly owns 2,129,745 shares in the company, valued at approximately $29,071,019.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO Vasily Shikin sold 379,088 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $13.65, for a total transaction of $5,174,551.20. Following the transaction, the chief technology officer now owns 2,129,745 shares of the company’s stock, valued at approximately $29,071,019.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Katie Kihorany Jansen sold 48,562 shares of the firm’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $14.05, for a total transaction of $682,296.10. Following the sale, the chief marketing officer now owns 1,238,500 shares of the company’s stock, valued at $17,400,925. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,179,525 shares of company stock valued at $40,038,628. 12.78% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

Several institutional investors have recently made changes to their positions in the company. Wipfli Financial Advisors LLC acquired a new stake in AppLovin during the third quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of AppLovin during the 2nd quarter worth about $52,000. US Bancorp DE increased its position in shares of AppLovin by 1,467.0% during the 2nd quarter. US Bancorp DE now owns 1,567 shares of the company’s stock worth $54,000 after purchasing an additional 1,467 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in AppLovin by 99.0% in the 1st quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock valued at $54,000 after buying an additional 488 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in AppLovin in the second quarter valued at about $55,000. Hedge funds and other institutional investors own 38.19% of the company’s stock.

About AppLovin

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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.