AppLovin (NASDAQ:APP) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of AppLovin (NASDAQ:APP) from a neutral rating to a buy rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $145.00 target price on the stock, up from their prior target price of $100.00.

Other equities research analysts have also recently issued reports about the company. Bank of America increased their target price on AppLovin from $100.00 to $120.00 and gave the company a buy rating in a report on Wednesday, September 11th. 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. Benchmark increased their target price on AppLovin from $48.00 to $66.00 and gave the company a sell rating in a report on Friday, August 23rd. BTIG Research increased their target price on AppLovin from $114.00 to $150.00 and gave the company a buy rating in a report on Friday, September 13th. Finally, Oppenheimer restated an outperform rating and set a $105.00 target price (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $103.09.

AppLovin Price Performance

Shares of AppLovin stock opened at $126.09 on Tuesday. 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 firm has a market capitalization of $41.49 billion, a PE ratio of 75.05, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. The business’s 50-day moving average price is $87.10 and its 200-day moving average price is $79.83. AppLovin has a 12 month low of $34.45 and a 12 month high of $128.19.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company’s revenue was up 44.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. Sell-side analysts forecast that AppLovin will post 3.46 EPS for the current fiscal year.

Insider Activity

In related news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $90.75, for a total transaction 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 approximately $693,468,938.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of AppLovin stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders sold a total of 775,934 shares of company stock worth $65,805,022 in the last quarter. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after acquiring an additional 248,022 shares during the period. Gulf International Bank UK Ltd bought a new stake in shares of AppLovin in the first quarter worth $1,131,000. Acadian Asset Management LLC grew its holdings in shares of AppLovin by 2,081.4% in the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after acquiring an additional 15,590 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after acquiring an additional 10,099 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in shares of AppLovin in the second quarter worth $1,195,000. 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.