AppLovin Co. (NASDAQ:APP) Receives $265.57 Average PT from Brokerages

Shares of AppLovin Co. (NASDAQ:APP) have been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $265.57.

Several equities research analysts have recently issued reports on APP shares. JPMorgan Chase & Co. lifted their price target on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Macquarie increased their price target on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Benchmark reaffirmed a “sell” rating and issued a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Finally, Wells Fargo & Company increased their target price on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th.

Insider Transactions at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s 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 transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 12.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Craig Scott Billings sold 18,000 shares of AppLovin stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the sale, the director now directly owns 2,987 shares in the company, valued at $952,673.78. The trade was a 85.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 884,395 shares of company stock worth $243,101,629. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of APP. National Bank of Canada FI raised its holdings in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after buying an additional 39 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares during the period. HM Payson & Co. raised its stake in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings 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 valued at $4,371,000 after acquiring an additional 104 shares during the period. Finally, Ashton Thomas Securities LLC boosted its stake in shares of AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 1.1 %

APP stock opened at $340.59 on Friday. The company has a 50 day moving average of $201.91 and a two-hundred day moving average of $126.29. The company has a market cap of $114.30 billion, a price-to-earnings ratio of 103.50, a PEG ratio of 4.15 and a beta of 1.86. AppLovin has a 12-month low of $35.79 and a 12-month high of $347.60. 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 (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $0.30 earnings per share. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, equities analysts anticipate that AppLovin will post 4.06 earnings per share for the current fiscal year.

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.