AppLovin (NASDAQ:APP) Raised to Strong-Buy at Daiwa America

AppLovin (NASDAQ:APP) was upgraded by stock analysts at Daiwa America from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other equities research analysts have also recently commented on APP. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and raised their target price for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Oppenheimer raised their price objective on shares of AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus upped their target price on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. Loop Capital initiated coverage on AppLovin in a report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $182.31.

AppLovin Trading Up 17.6 %

Shares of AppLovin stock opened at $290.01 on Friday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $96.94 billion, a PE ratio of 87.88, a P/E/G ratio of 2.43 and a beta of 1.86. AppLovin has a 1-year low of $35.79 and a 1-year high of $292.86. The company’s fifty day simple moving average is $139.27 and its 200-day simple moving average is $101.29.

AppLovin (NASDAQ:APP) last released 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. AppLovin had a return on equity of 122.06% 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 quarter in the previous year, the company posted $0.30 earnings per share. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, equities analysts anticipate that AppLovin will post 3.47 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 over the last 90 days. 14.69% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp raised its position in AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after purchasing an additional 248,022 shares during the period. Acadian Asset Management LLC grew its stake in shares of AppLovin by 2,081.4% during the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after buying an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after buying an additional 10,099 shares during the period. Clearbridge Investments LLC lifted its stake in shares of AppLovin by 73.0% during the 2nd quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock worth $74,344,000 after acquiring an additional 376,835 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE purchased a new position in AppLovin during the 3rd quarter valued at $7,086,000. 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.