AppLovin (NASDAQ:APP) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of AppLovin (NASDAQ:APP) in a research report report published on Wednesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $400.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. Benchmark reissued a “sell” rating and issued a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. BTIG Research upped their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Macquarie boosted their price target on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Oppenheimer increased their target price on shares of AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.96.

AppLovin Trading Up 1.3 %

Shares of APP opened at $325.22 on Wednesday. AppLovin has a one year low of $35.79 and a one year high of $342.51. The stock has a 50-day moving average price of $172.62 and a 200 day moving average price of $113.92. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market capitalization of $109.14 billion, a P/E ratio of 98.55, a P/E/G ratio of 3.58 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. Sell-side analysts forecast that AppLovin will post 4.06 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 12.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the sale, the chief technology officer now directly owns 4,530,455 shares in the company, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 221,376 shares of company stock valued at $30,737,619. Company insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APP. Capital Performance Advisors LLP acquired a new position in AppLovin during the third quarter valued at $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin during the third quarter worth approximately $27,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin in the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC purchased a new position in shares of AppLovin during the 2nd quarter valued at $33,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.