AppLovin (NASDAQ:APP) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

AppLovin (NASDAQ:APP) had its target price raised by stock analysts at The Goldman Sachs Group from $220.00 to $335.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 7.14% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. BTIG Research boosted their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report 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 report on Monday, November 25th. Citigroup upped their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Stock Up 5.2 %

Shares of NASDAQ APP opened at $360.75 on Monday. The firm has a market cap of $121.06 billion, a P/E ratio of 109.32, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin has a 1 year low of $40.71 and a 1 year high of $417.64. The firm’s 50 day moving average price is $339.10 and its 200 day moving average price is $203.00.

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

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 in the last 90 days. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank grew its position in AppLovin by 5.2% in the second quarter. Toronto Dominion Bank now owns 18,135 shares of the company’s stock worth $1,509,000 after buying an additional 900 shares during the last quarter. AXA S.A. boosted its stake in shares of AppLovin by 33.2% during the 2nd quarter. AXA S.A. now owns 54,807 shares of the company’s stock worth $4,561,000 after acquiring an additional 13,671 shares in the last quarter. APG Asset Management N.V. bought a new position in shares of AppLovin in the second quarter valued at approximately $2,242,000. The Manufacturers Life Insurance Company boosted its holdings in AppLovin by 23.8% during the second quarter. The Manufacturers Life Insurance Company now owns 49,389 shares of the company’s stock valued at $4,110,000 after acquiring an additional 9,508 shares during the period. Finally, Algert Global LLC grew its stake in shares of AppLovin by 34.2% in the second quarter. Algert Global LLC now owns 6,736 shares of the company’s stock worth $561,000 after acquiring an additional 1,716 shares during the last quarter. 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.