AppLovin (NASDAQ:APP) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of AppLovin (NASDAQ:APP) in a report issued on Thursday morning,Benzinga reports.

Other equities analysts have also issued research reports about the stock. Benchmark upped their price objective on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Bank of America raised their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Stifel Nicolaus upped their target price on AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Citigroup upped their price objective on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $182.31.

AppLovin Stock Performance

Shares of APP stock opened at $290.01 on Thursday. The stock has a market capitalization of $96.94 billion, a PE ratio of 87.88, a PEG ratio of 2.43 and a beta of 1.86. The business’s 50 day simple moving average is $139.27 and its 200 day simple moving average is $101.29. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin has a one year low of $35.79 and a one year high of $292.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.06%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, research analysts forecast that AppLovin will post 3.47 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 610,094 shares of company stock worth $51,022,478. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new stake in AppLovin in the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in AppLovin in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the third quarter worth about $29,000. Finally, Quest Partners LLC purchased a new position in AppLovin during the second quarter worth about $33,000. Hedge funds and other institutional investors 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.