AppLovin (NASDAQ:APP) Stock Price Expected to Rise, Loop Capital Analyst Says

AppLovin (NASDAQ:APP) had its price target upped by stock analysts at Loop Capital from $450.00 to $650.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price objective suggests a potential upside of 49.29% from the company’s current price.

Several other research firms have also issued reports on APP. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. UBS Group raised their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Stifel Nicolaus raised their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group raised their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $442.18.

AppLovin Price Performance

Shares of NASDAQ:APP traded down $58.77 during midday trading on Thursday, reaching $435.40. 7,173,755 shares of the company were exchanged, compared to its average volume of 5,132,237. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s fifty day moving average is $361.30 and its two-hundred day moving average is $239.37. AppLovin has a one year low of $54.50 and a one year high of $525.15. The stock has a market cap of $146.12 billion, a PE ratio of 95.99, a price-to-earnings-growth ratio of 3.61 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 (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, analysts predict that AppLovin will post 6.87 earnings per share for the current year.

Insider Activity

In related news, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 217,403 shares of company stock worth $72,325,024. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of institutional investors have recently bought and sold shares of APP. FMR LLC boosted its stake in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. SVB Wealth LLC acquired a new stake in AppLovin during the 4th quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. lifted its stake in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares during the period. Norges Bank acquired a new stake in AppLovin during the 4th quarter valued at approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in AppLovin by 457.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after acquiring an additional 2,373,885 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.