AppLovin (NASDAQ:APP) Reaches New 1-Year High – Should You Buy?

AppLovin Co. (NASDAQ:APP) reached a new 52-week high during trading on Thursday . The stock traded as high as $133.18 and last traded at $132.32, with a volume of 158723 shares trading hands. The stock had previously closed at $131.36.

Analysts Set New Price Targets

Several research firms have weighed in on APP. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Citigroup upped their price target on shares of AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BTIG Research lifted their target price on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Jefferies Financial Group increased their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price objective (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.44.

AppLovin Stock Up 3.3 %

The business has a 50-day moving average price of $96.53 and a 200 day moving average price of $84.50. The stock has a market capitalization of $45.95 billion, a P/E ratio of 83.13, a P/E/G ratio of 1.82 and a beta of 1.92. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.22 earnings per share. AppLovin’s quarterly revenue was up 44.0% compared to the same quarter last year. On average, equities analysts expect that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares in the company, valued at $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock valued at $51,022,478 over the last ninety days. 14.69% of the stock is owned by insiders.

Hedge Funds Weigh In On AppLovin

Several hedge funds have recently bought and sold shares of APP. Quest Partners LLC purchased a new stake in shares of AppLovin during the second quarter valued at $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in AppLovin in the 2nd quarter valued at about $34,000. Covestor Ltd boosted its position in AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in AppLovin in the 2nd quarter worth about $37,000. Finally, Atlas Capital Advisors LLC purchased a new position in shares of AppLovin during the first quarter worth approximately $38,000. Institutional investors own 41.85% of the company’s stock.

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.