AppLovin (NASDAQ:APP) Price Target Raised to $630.00 at UBS Group

AppLovin (NASDAQ:APP) had its target price upped by stock analysts at UBS Group from $440.00 to $630.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 24.71% from the company’s previous close.

A number of other research analysts have also recently weighed in on APP. Loop Capital lifted their target price on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Thursday. Piper Sandler assumed coverage on AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Four 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $389.53.

AppLovin Stock Performance

APP stock opened at $505.19 on Thursday. AppLovin has a 1 year low of $45.59 and a 1 year high of $497.43. The stock’s fifty day moving average price is $347.30 and its 200-day moving average price is $224.62. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market cap of $169.54 billion, a P/E ratio of 153.20, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. On average, equities analysts forecast that AppLovin will post 4.09 earnings per share for the current year.

Insider Activity at AppLovin

In other news, Director Craig Scott Billings sold 18,000 shares of AppLovin stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the completion of the sale, the director now directly owns 2,987 shares in the company, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 828,991 shares of company stock worth $267,640,144. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Townsquare Capital LLC lifted its holdings in shares of AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after buying an additional 3,126 shares during the period. Second Half Financial Partners LLC purchased a new stake in shares of AppLovin during the 3rd quarter worth $224,000. State Street Corp boosted its holdings in shares of AppLovin by 8.6% in the 3rd 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 in the last quarter. Eagle Asset Management Inc. boosted its stake in AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management boosted its position in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after purchasing an additional 81,331 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

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.