AppLovin (NASDAQ:APP) Price Target Raised to $325.00 at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $200.00 to $325.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 3.93% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer restated an “outperform” rating and set a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. Bank of America raised their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.71.

AppLovin Stock Performance

AppLovin stock traded down $16.50 during trading hours on Friday, reaching $312.70. 1,780,958 shares of the company were exchanged, compared to its average volume of 4,244,680. AppLovin has a 12 month low of $39.43 and a 12 month high of $417.64. 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 stock has a 50-day moving average of $315.31 and a 200 day moving average of $178.09. The firm has a market cap of $104.94 billion, a price-to-earnings ratio of 94.76, a PEG ratio of 4.17 and a beta of 2.29.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted $0.30 EPS. The business’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, research analysts anticipate that AppLovin will post 4.06 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of large investors have recently bought and sold shares of APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the third quarter worth $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter worth about $29,000. Finally, Quest Partners LLC bought a new position in shares of AppLovin in the 2nd quarter valued at about $33,000. 41.85% of the stock is owned by institutional investors.

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.