Jefferies Financial Group Raises AppLovin (NASDAQ:APP) Price Target to $108.00

AppLovin (NASDAQ:APP) had its price target boosted by analysts at Jefferies Financial Group from $105.00 to $108.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 24.02% from the company’s current price.

APP has been the subject of a number of other research reports. Wedbush dropped their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Finally, Benchmark increased 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.09.

AppLovin Price Performance

APP traded up $0.77 on Tuesday, reaching $87.08. The stock had a trading volume of 908,482 shares, compared to its average volume of 4,028,981. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market capitalization of $29.11 billion, a price-to-earnings ratio of 51.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.88. The firm has a 50-day moving average of $82.93 and a 200-day moving average of $77.20. AppLovin has a fifty-two week low of $34.45 and a fifty-two week high of $93.70.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company earned $0.22 EPS. The firm’s revenue was up 44.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin will post 3.48 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 11,276 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $75.71, for a total value of $853,705.96. Following the sale, the insider now directly owns 437,214 shares in the company, valued at approximately $33,101,471.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Victoria Valenzuela sold 11,276 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $75.71, for a total value of $853,705.96. Following the completion of the sale, the insider now owns 437,214 shares of the company’s stock, valued at $33,101,471.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of AppLovin stock in a transaction on Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the transaction, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold 630,081 shares of company stock worth $53,384,695 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in AppLovin by 9,470.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after buying an additional 248,022 shares during the period. Gulf International Bank UK Ltd bought a new position in AppLovin during the 1st quarter valued at about $1,131,000. Acadian Asset Management LLC raised its position in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after purchasing an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after buying an additional 10,099 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in shares of AppLovin during the second quarter worth $1,195,000. 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.