AppLovin (NASDAQ:APP) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of AppLovin (NASDAQ:APP) in a report published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $93.00 price objective on the stock.

Several other research firms have also issued reports on APP. UBS Group boosted 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. Wedbush boosted their price objective on shares of AppLovin from $67.00 to $87.00 and gave the company an outperform rating in a report on Thursday, April 11th. TheStreet upgraded shares of AppLovin from a d+ rating to a c- rating in a report on Friday, March 8th. Daiwa Capital Markets initiated coverage on shares of AppLovin in a report on Monday, April 15th. They issued a neutral rating and a $80.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on shares of AppLovin from $59.00 to $73.00 and gave the company a buy rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $63.60.

AppLovin Price Performance

Shares of APP stock opened at $75.07 on Thursday. The firm’s 50 day moving average price is $68.59 and its two-hundred day moving average price is $51.10. The stock has a market cap of $25.67 billion, a PE ratio of 75.07, a PEG ratio of 1.44 and a beta of 1.85. AppLovin has a 52-week low of $16.56 and a 52-week high of $79.55. 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 (NASDAQ:APP) last posted 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. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The business 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 earned ($0.21) EPS. The firm’s revenue was up 35.7% on a year-over-year basis. As a group, analysts forecast that AppLovin will post 2.52 EPS for the current year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 2,890 shares of the 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 transaction, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Matthew Stumpf sold 2,775 shares of the 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 transaction, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 2,890 shares of the 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 transaction, the insider now owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The disclosure for this sale can be found here. Insiders sold 61,215 shares of company stock valued at $4,416,815 over the last three months. Company insiders own 12.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in AppLovin by 13.6% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $89,000 after purchasing an additional 154 shares in the last quarter. DeDora Capital Inc. grew its stake in AppLovin by 1.8% in the first quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock valued at $664,000 after purchasing an additional 166 shares in the last quarter. Lindbrook Capital LLC grew its stake in AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock valued at $53,000 after purchasing an additional 281 shares in the last quarter. Xponance Inc. grew its stake in AppLovin by 2.5% in the fourth quarter. Xponance Inc. now owns 13,664 shares of the company’s stock valued at $545,000 after purchasing an additional 334 shares in the last quarter. Finally, CWM LLC grew its stake in AppLovin by 16.3% in the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after purchasing an additional 401 shares in the last quarter. 41.85% of the stock is currently owned by 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.