AppLovin (NASDAQ:APP) Given New $250.00 Price Target at Stifel Nicolaus

AppLovin (NASDAQ:APP) had its target price boosted by investment analysts at Stifel Nicolaus from $185.00 to $250.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 4.05% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Citigroup raised their target price on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company initiated coverage on shares of AppLovin in a research note on Monday, October 28th. They set an “overweight” rating and a $200.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday. One 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’s stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.54.

AppLovin Price Performance

APP traded up $71.73 during trading on Thursday, hitting $240.28. 16,142,897 shares of the company traded hands, compared to its average volume of 4,199,733. The company has a market cap of $80.31 billion, a PE ratio of 102.25, a P/E/G ratio of 2.36 and a beta of 1.86. The stock’s 50-day simple moving average is $132.23 and its two-hundred day simple moving average is $98.51. AppLovin has a 1 year low of $35.79 and a 1 year high of $257.43. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company posted $0.22 EPS. The business’s revenue was up 44.0% on a year-over-year basis. As a group, sell-side analysts anticipate that AppLovin will post 3.47 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AppLovin news, CTO Vasily Shikin sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00. Following the completion of the sale, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 610,094 shares of company stock valued at $51,022,478. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after buying an additional 248,022 shares during the period. Acadian Asset Management LLC increased its holdings in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after purchasing an additional 15,590 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,099 shares in the last quarter. Clearbridge Investments LLC increased its holdings in AppLovin by 73.0% in the 2nd quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock valued at $74,344,000 after purchasing an additional 376,835 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE acquired a new stake in AppLovin in the 3rd quarter valued at $7,086,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.