AppLovin (NASDAQ:APP) Hits New 12-Month High – Time to Buy?

AppLovin Co. (NASDAQ:APP) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $166.23 and last traded at $165.90, with a volume of 1145119 shares changing hands. The stock had previously closed at $161.63.

Analysts Set New Price Targets

Several analysts recently weighed in on APP shares. Wells Fargo & Company started coverage on AppLovin in a research report on Monday. They set an “overweight” rating and a $200.00 price objective for the company. BTIG Research raised their target price on shares of AppLovin from $150.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group upped their price target on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Wedbush cut their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Benchmark upped their target price on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.78.

AppLovin Price Performance

The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The business has a 50 day moving average price of $123.04 and a 200-day moving average price of $94.65. The company has a market capitalization of $57.37 billion, a price-to-earnings ratio of 73.15, a P/E/G ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. Research analysts predict that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently made changes to their positions in APP. Geneva Partners LLC bought a new stake in AppLovin during the 3rd quarter worth approximately $366,000. Moloney Securities Asset Management LLC bought a new stake in AppLovin during the third quarter worth $313,000. Quintet Private Bank Europe S.A. purchased a new stake in AppLovin in the 3rd quarter valued at $509,000. QRG Capital Management Inc. lifted its stake in AppLovin by 166.0% during the 3rd quarter. QRG Capital Management Inc. now owns 25,880 shares of the company’s stock valued at $3,379,000 after acquiring an additional 16,149 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in AppLovin by 13.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 70,698 shares of the company’s stock worth $9,230,000 after acquiring an additional 8,119 shares during the last quarter. Institutional investors and hedge funds 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.