AppLovin Co. (NASDAQ:APP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of AppLovin Co. (NASDAQ:APP) have been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $355.41.

Several analysts have recently weighed in on APP shares. Wells Fargo & Company lifted their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Loop Capital upped their price objective on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and upped their price target for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Finally, Piper Sandler initiated coverage on AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company.

Insider Activity

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC lifted its holdings in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. FMR LLC lifted its stake in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares in the last quarter. Lone Pine Capital LLC boosted its holdings in shares of AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after buying an additional 382,767 shares during the period. State Street Corp boosted its holdings in shares of AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after buying an additional 428,419 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after acquiring an additional 449,241 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Up 0.2 %

Shares of APP opened at $363.10 on Friday. The stock’s 50-day moving average price is $337.41 and its 200 day moving average price is $198.41. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $121.85 billion, a price-to-earnings ratio of 110.03, a P/E/G ratio of 2.96 and a beta of 2.29. AppLovin has a 12-month low of $40.71 and a 12-month high of $417.64.

AppLovin (NASDAQ:APP) last issued its earnings results 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 return on equity of 122.24% 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 period in the prior year, the company posted $0.30 earnings per share. AppLovin’s revenue was up 38.6% on a year-over-year basis. As a group, research analysts predict that AppLovin will post 4.06 earnings per share for the current year.

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.