AppLovin (NASDAQ:APP) PT Raised to $85.00

AppLovin (NASDAQ:APP) had its price objective raised by investment analysts at Oppenheimer from $70.00 to $85.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 11.08% from the stock’s previous close.

Several other equities analysts also recently commented on APP. The Goldman Sachs Group boosted their target price on shares of AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. UBS Group lifted their target price on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Wedbush boosted their target price on AppLovin from $58.50 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. Finally, HSBC began coverage on AppLovin in a research note on Monday, December 18th. They issued a “buy” rating and a $53.20 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.11.

AppLovin Stock Performance

APP opened at $76.52 on Monday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. AppLovin has a 1-year low of $15.26 and a 1-year high of $79.55. The company has a 50 day simple moving average of $60.85 and a two-hundred day simple moving average of $47.19. The firm has a market cap of $26.17 billion, a P/E ratio of 76.52, a PEG ratio of 1.51 and a beta of 1.90.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The business had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. Equities analysts forecast that AppLovin will post 2.48 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the sale, the director now owns 12,739 shares of the company’s stock, valued at $743,065.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the transaction, the insider now owns 546,560 shares in the company, valued at approximately $31,569,305.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the sale, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,215 shares of company stock worth $4,416,815. Insiders own 12.43% of the company’s stock.

Institutional Trading of AppLovin

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after purchasing an additional 1,411,453 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of AppLovin by 2.4% in the 2nd quarter. BlackRock Inc. now owns 8,335,764 shares of the company’s stock worth $214,479,000 after buying an additional 195,030 shares during the period. Spruce House Investment Management LLC grew its position in shares of AppLovin by 33.7% during the 4th quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company’s stock worth $52,650,000 after buying an additional 1,259,199 shares in the last quarter. Sapient Capital LLC purchased a new position in shares of AppLovin during the fourth quarter valued at $165,057,000. Finally, First Trust Advisors LP increased its stake in shares of AppLovin by 3.7% during the first quarter. First Trust Advisors LP now owns 4,040,013 shares of the company’s stock valued at $63,630,000 after buying an additional 144,035 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.