AppLovin (NASDAQ:APP) Price Target Raised to $335.00

AppLovin (NASDAQ:APP) had its target price boosted by The Goldman Sachs Group from $220.00 to $335.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

APP has been the topic of a number of other reports. Citigroup raised their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Stifel Nicolaus lifted their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. BTIG Research lifted their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Macquarie upped their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $366.29.

AppLovin Price Performance

Shares of AppLovin stock opened at $366.34 on Monday. The stock has a market capitalization of $122.94 billion, a P/E ratio of 111.01, a PEG ratio of 2.96 and a beta of 2.29. The business has a 50 day simple moving average of $339.92 and a two-hundred day simple moving average of $204.14. AppLovin has a 12 month low of $40.71 and a 12 month high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company earned $0.30 EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. As a group, analysts predict that AppLovin will post 4.06 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several large investors have recently bought and sold shares of the stock. Toronto Dominion Bank increased its position in shares of AppLovin by 5.2% in the 2nd quarter. Toronto Dominion Bank now owns 18,135 shares of the company’s stock valued at $1,509,000 after purchasing an additional 900 shares during the last quarter. AXA S.A. grew its stake in shares of AppLovin by 33.2% during the second quarter. AXA S.A. now owns 54,807 shares of the company’s stock worth $4,561,000 after purchasing an additional 13,671 shares in the last quarter. APG Asset Management N.V. purchased a new position in AppLovin in the second quarter valued at $2,242,000. The Manufacturers Life Insurance Company raised its stake in AppLovin by 23.8% in the second quarter. The Manufacturers Life Insurance Company now owns 49,389 shares of the company’s stock valued at $4,110,000 after buying an additional 9,508 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in AppLovin by 34.2% during the 2nd quarter. Algert Global LLC now owns 6,736 shares of the company’s stock worth $561,000 after buying an additional 1,716 shares during the last quarter. Hedge funds and other institutional investors 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.