AppLovin (NASDAQ:APP) Price Target Increased to $85.00 by Analysts at Stifel Nicolaus

AppLovin (NASDAQ:APP) had its price target hoisted by Stifel Nicolaus from $65.00 to $85.00 in a research report report published on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research analysts also recently issued reports on the company. UBS Group lifted their price target on AppLovin from $46.00 to $55.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Daiwa Capital Markets assumed coverage on shares of AppLovin in a research note on Monday, April 15th. They issued a neutral rating and a $80.00 target price for the company. BTIG Research boosted their target price on shares of AppLovin from $65.00 to $87.00 and gave the company a buy rating in a research note on Tuesday, April 9th. Morgan Stanley boosted their target price on shares of AppLovin from $55.00 to $70.00 and gave the company an equal weight rating in a research note on Tuesday, April 16th. Finally, TheStreet raised shares of AppLovin from a d+ rating to a c- rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $61.07.

AppLovin Price Performance

AppLovin stock opened at $69.74 on Wednesday. The company has a market cap of $23.85 billion, a P/E ratio of 69.74, a price-to-earnings-growth ratio of 1.47 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. AppLovin has a one year low of $15.70 and a one year high of $79.55. The business has a fifty day moving average of $67.66 and a two-hundred day moving average of $50.56.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. The business had revenue of $953.26 million during the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The business’s revenue was up 35.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) EPS. As a group, analysts predict that AppLovin will post 2.49 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 546,560 shares in the company, valued at approximately $31,569,305.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 362,264 shares in the company, valued at approximately $22,931,311.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,215 shares of company stock worth $4,416,815. 12.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GLOBALT Investments LLC GA acquired a new position in AppLovin during the 1st quarter worth approximately $749,000. Janney Montgomery Scott LLC lifted its position in AppLovin by 167.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after acquiring an additional 10,099 shares in the last quarter. Braun Stacey Associates Inc. acquired a new position in AppLovin during the 1st quarter worth approximately $18,260,000. Smith Group Asset Management LLC lifted its position in AppLovin by 1,812.6% during the 1st quarter. Smith Group Asset Management LLC now owns 366,355 shares of the company’s stock worth $25,359,000 after acquiring an additional 347,200 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in AppLovin during the 1st quarter worth approximately $329,000. 41.85% of the stock is owned by institutional investors and hedge funds.

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.