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

AppLovin (NASDAQ:APP) had its price target raised by Jefferies Financial Group from $270.00 to $400.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

APP has been the topic of several other reports. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Loop Capital lifted their price target on AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a report on Monday, November 11th. Bank of America increased their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wedbush reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Trading Up 3.2 %

NASDAQ APP opened at $329.77 on Tuesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin has a one year low of $35.79 and a one year high of $344.77. The company has a 50-day simple moving average of $185.37 and a 200-day simple moving average of $119.37. The firm has a market capitalization of $110.67 billion, a PE ratio of 99.93, a price-to-earnings-growth ratio of 4.11 and a beta of 1.86.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during 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%. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, equities analysts forecast that AppLovin will post 4.05 earnings per share for the current year.

Insider Activity

In other news, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the transaction, the chief financial officer now directly owns 213,336 shares in the company, valued at $70,970,487.12. The trade was a 9.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 5,500 shares of AppLovin stock in a transaction on Monday, September 9th. The shares were sold at an average price of $86.04, for a total value of $473,220.00. Following the sale, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at approximately $390,315,899.88. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 854,065 shares of company stock worth $233,072,408 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the 3rd quarter worth $25,000. DT Investment Partners LLC bought a new stake in AppLovin in the third quarter worth $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin during the third quarter valued at about $29,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin in the second quarter worth about $33,000. 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.