Citigroup Boosts AppLovin (NASDAQ:APP) Price Target to $335.00

AppLovin (NASDAQ:APP) had its price objective lifted by Citigroup from $185.00 to $335.00 in a research report sent to investors on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other analysts also recently issued reports on APP. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Wells Fargo & Company assumed coverage on AppLovin in a report on Monday, October 28th. They issued an “overweight” rating and a $200.00 target price for the company. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Finally, Bank of America boosted their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $222.96.

AppLovin Stock Down 1.9 %

NASDAQ APP opened at $318.99 on Monday. The stock’s 50-day moving average price is $176.89 and its 200-day moving average price is $115.35. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 52 week low of $35.79 and a 52 week high of $342.51. The company has a market capitalization of $107.05 billion, a P/E ratio of 96.67, a price-to-earnings-growth ratio of 3.95 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. On average, equities research analysts predict that AppLovin will post 4.06 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 5,500 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00. Following the transaction, the chief technology officer now owns 4,536,447 shares in the company, valued at approximately $390,315,899.88. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,376 shares of company stock worth $30,737,619. 14.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI increased its stake in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the last quarter. Great Valley Advisor Group Inc. boosted its position in shares of AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares during the period. HM Payson & Co. boosted its position in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC boosted its position in shares of AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after buying an additional 104 shares during the period. Finally, Ashton Thomas Securities LLC boosted its position in shares of AppLovin by 2.6% during the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.