AppLovin Co. (NASDAQ:APP) Given Average Rating of “Moderate Buy” by Brokerages

AppLovin Co. (NASDAQ:APP) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $59.31.

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. The Goldman Sachs Group increased their target price on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. UBS Group raised their target price on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Finally, Daiwa Capital Markets initiated coverage on AppLovin in a research note on Monday, April 15th. They set a “neutral” rating and a $80.00 price objective for the company.

AppLovin Trading Up 4.9 %

NASDAQ:APP opened at $71.19 on Friday. The stock has a fifty day simple moving average of $66.18 and a 200 day simple moving average of $49.46. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 71.19, a price-to-earnings-growth ratio of 1.35 and a beta of 1.90. AppLovin has a 1-year low of $15.41 and a 1-year high of $79.55. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm had revenue of $953.26 million during the quarter, compared to analyst estimates of $928.66 million. During the same quarter last year, the business posted ($0.21) EPS. The company’s revenue was up 35.7% on a year-over-year basis. Sell-side analysts forecast that AppLovin will post 2.47 earnings per share for the current year.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Craig Scott Billings sold 5,550 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the sale, the director now directly owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now directly owns 546,560 shares in the company, valued at approximately $31,569,305.60. The disclosure for this sale can be found here. Insiders have sold a total of 61,215 shares of company stock valued at $4,416,815 over the last 90 days. Insiders own 12.43% of the company’s stock.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of APP. Wesbanco Bank Inc. bought a new stake in AppLovin during the first quarter valued at approximately $208,000. Altfest L J & Co. Inc. raised its position in shares of AppLovin by 69.0% during the 1st quarter. Altfest L J & Co. Inc. now owns 17,423 shares of the company’s stock valued at $1,206,000 after buying an additional 7,115 shares in the last quarter. Raymond James & Associates raised its position in shares of AppLovin by 48.4% during the 1st quarter. Raymond James & Associates now owns 1,545,837 shares of the company’s stock valued at $107,003,000 after buying an additional 503,998 shares in the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of AppLovin during the 1st quarter valued at $2,190,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of AppLovin during the 1st quarter valued at $27,080,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.