The Goldman Sachs Group Has Lowered Expectations for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP) had its target price lowered by stock analysts at The Goldman Sachs Group from $500.00 to $335.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 36.47% from the stock’s previous close.

Several other equities research analysts have also recently commented on APP. Loop Capital reissued a “buy” rating and issued a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. Benchmark boosted their target price on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. FBN Securities initiated coverage on shares of AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, UBS Group cut their target price on AppLovin from $630.00 to $450.00 and set a “buy” rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $424.84.

AppLovin Trading Up 4.0 %

Shares of NASDAQ APP opened at $245.47 on Monday. The business has a fifty day simple moving average of $321.85 and a 200-day simple moving average of $294.97. The company has a market cap of $83.45 billion, a price-to-earnings ratio of 54.07, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin has a 12 month low of $60.67 and a 12 month high of $525.15. 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 issued its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts predict that AppLovin will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 in the last ninety days. Company insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the 4th quarter valued at $25,000. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co boosted its position in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new stake in AppLovin during the fourth quarter worth about $28,000. Finally, Hemington Wealth Management increased its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares in the last quarter. 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.