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

AppLovin Co. (NASDAQ:APP) has received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $59.31.

A number of brokerages have recently issued reports on APP. Oppenheimer lifted their target price on AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. UBS Group lifted their target price on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. BTIG Research lifted their target price on AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Daiwa Capital Markets began coverage on AppLovin in a research report on Monday. They set a “neutral” rating and a $80.00 target price on the stock. Finally, The Goldman Sachs Group lifted their target price on AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th.

Insider Transactions at AppLovin

In other news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the transaction, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the sale, the chief financial officer now owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 12,739 shares in the company, valued at approximately $743,065.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,215 shares of company stock worth $4,416,815. Company insiders own 12.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors LLC bought a new position in shares of AppLovin in the first quarter valued at $38,000. FinTrust Capital Advisors LLC purchased a new position in AppLovin during the 4th quarter worth approximately $32,000. BluePath Capital Management LLC purchased a new position in AppLovin during the 3rd quarter worth approximately $33,000. Tower Research Capital LLC TRC grew its position in AppLovin by 86.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 927 shares of the company’s stock worth $37,000 after purchasing an additional 429 shares in the last quarter. Finally, Castleview Partners LLC purchased a new position in AppLovin during the 3rd quarter worth approximately $38,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 2.9 %

NASDAQ:APP opened at $68.86 on Friday. The business’s 50-day moving average is $64.85 and its two-hundred day moving average is $48.74. 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 12 month low of $15.41 and a 12 month high of $79.55. The firm has a market capitalization of $23.55 billion, a PE ratio of 68.86, a price-to-earnings-growth ratio of 1.46 and a beta of 1.90.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The company had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. During the same period last year, the company posted ($0.21) earnings per share. The firm’s revenue was up 35.7% compared to the same quarter last year. Research analysts predict that AppLovin will post 2.47 earnings per share for the current fiscal year.

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.