Jefferies Financial Group Boosts AppLovin (NASDAQ:APP) Price Target to $425.00

AppLovin (NASDAQ:APP) had its price objective lifted by Jefferies Financial Group from $400.00 to $425.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 29.10% from the company’s current price.

APP has been the topic of several other research reports. Piper Sandler initiated coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. Stifel Nicolaus upped their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Citigroup raised their price target on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. BTIG Research upped their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $280.00 in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $312.18.

AppLovin Stock Performance

APP opened at $329.20 on Wednesday. The firm’s 50-day moving average price is $315.31 and its 200-day moving average price is $178.09. The company has a market cap of $110.48 billion, a P/E ratio of 99.76, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. 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 $38.60 and a 52-week high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, equities analysts anticipate that AppLovin will post 4.06 EPS for the current fiscal year.

Insider Activity

In other news, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in APP. National Bank of Canada FI lifted its stake in shares of AppLovin by 4.0% in the third 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. Versant Capital Management Inc lifted its stake in AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares during the last quarter. HM Payson & Co. grew its position in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds 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.