AppLovin (NASDAQ:APP) Trading Up 7.3% Following Analyst Upgrade

AppLovin Co. (NASDAQ:APP) shares shot up 7.3% on Wednesday after UBS Group raised their price target on the stock from $315.00 to $440.00. UBS Group currently has a buy rating on the stock. AppLovin traded as high as $371.77 and last traded at $363.12. 1,793,150 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 3,995,984 shares. The stock had previously closed at $338.39.

A number of other equities analysts have also recently weighed in on APP. Stifel Nicolaus lifted their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Jefferies Financial Group lifted their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Bank of America lifted their target price on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. BTIG Research lifted their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $480.00 target price on shares of AppLovin in a research note on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $355.41.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 15,971 shares of the business’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 completion of the sale, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in APP. National Bank of Canada FI increased 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 valued at $131,000 after buying an additional 39 shares in the last quarter. Versant Capital Management Inc boosted its holdings in AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings 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 last quarter. Fifth Third Bancorp boosted its holdings in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in AppLovin by 54.7% in the fourth quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock valued at $70,000 after acquiring an additional 76 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

The firm has a fifty day moving average of $335.97 and a 200-day moving average of $195.69. The firm has a market cap of $121.66 billion, a P/E ratio of 109.85, a PEG ratio of 2.77 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 (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. Research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

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.