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

AppLovin (NASDAQ:APP) had its target price raised by investment analysts at Macquarie from $150.00 to $270.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s target price indicates a potential upside of 10.36% from the company’s previous close.

Other analysts have also recently issued reports about the company. Loop Capital initiated coverage on AppLovin in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Bank of America upped their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Citigroup upped their price objective on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.01.

AppLovin Stock Up 45.2 %

Shares of NASDAQ APP traded up $76.11 during midday trading on Thursday, hitting $244.66. 14,946,233 shares of the company’s stock were exchanged, compared to its average volume of 4,194,193. The firm’s fifty day simple moving average is $132.23 and its 200-day simple moving average is $98.51. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $81.78 billion, a PE ratio of 103.71, a P/E/G ratio of 2.36 and a beta of 1.86. AppLovin has a twelve month low of $35.79 and a twelve month high of $257.43.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business earned $0.22 EPS. AppLovin’s revenue for the quarter was up 44.0% compared to the same quarter last year. Research analysts predict that AppLovin will post 3.47 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the transaction, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the transaction, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. This trade represents 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 valued at $51,022,478. 14.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

A number of institutional investors and hedge funds have recently bought and sold shares of APP. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter worth approximately $29,000. HM Payson & Co. lifted its stake in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in AppLovin in the 3rd quarter valued at $42,000. 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.