UBS Group Issues Positive Forecast for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP) had its price target hoisted by UBS Group from $450.00 to $475.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 44.47% from the company’s current price.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group decreased their target price on shares of AppLovin from $500.00 to $335.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company upped their price objective on shares of AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. Benchmark reaffirmed a “buy” rating and set a $525.00 price target on shares of AppLovin in a research report on Thursday. Finally, Loop Capital reiterated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $433.85.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $328.79 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $111.77 billion, a PE ratio of 72.42, a PEG ratio of 3.02 and a beta of 2.39. The company’s fifty day moving average is $275.55 and its 200 day moving average is $310.54. AppLovin has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company posted $0.67 EPS. AppLovin’s revenue for the quarter was up 40.3% on a year-over-year basis. Research analysts anticipate that AppLovin will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently made changes to their positions in the company. JFS Wealth Advisors LLC raised its position in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares during the period. HighPoint Advisor Group LLC lifted its position in AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after purchasing an additional 31 shares in the last quarter. Quadrant Capital Group LLC lifted its position in AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after purchasing an additional 33 shares in the last quarter. Forum Financial Management LP grew its holdings in AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock valued at $1,223,000 after purchasing an additional 33 shares during the period. Finally, Vestcor Inc increased its position in AppLovin by 0.8% in the first quarter. Vestcor Inc now owns 4,108 shares of the company’s stock worth $1,088,000 after buying an additional 33 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

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.