AppLovin (NASDAQ:APP) Raised to Buy at UBS Group

UBS Group upgraded shares of AppLovin (NASDAQ:APP) from a neutral rating to a buy rating in a research report report published on Tuesday morning, MarketBeat reports. UBS Group currently has $145.00 price target on the stock, up from their previous price target of $100.00.

Several other brokerages have also recently weighed in on APP. Oppenheimer reaffirmed an outperform rating and issued a $105.00 price objective (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Jefferies Financial Group boosted their price target on AppLovin from $105.00 to $108.00 and gave the company a buy rating in a research note on Tuesday, September 10th. BTIG Research increased their price objective on shares of AppLovin from $114.00 to $150.00 and gave the stock a buy rating in a research note on Friday, September 13th. Benchmark boosted their target price on shares of AppLovin from $48.00 to $66.00 and gave the company a sell rating in a research report on Friday, August 23rd. Finally, Bank of America increased their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a buy rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, AppLovin currently has an average rating of Moderate Buy and a consensus target price of $103.09.

AppLovin Trading Up 0.7 %

APP stock opened at $124.00 on Tuesday. AppLovin has a 52 week low of $34.45 and a 52 week high of $128.19. The company has a market capitalization of $40.80 billion, a PE ratio of 73.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. The company’s 50-day simple moving average is $86.26 and its 200 day simple moving average is $79.52. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted $0.22 EPS. The business’s revenue was up 44.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin will post 3.46 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of AppLovin stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the transaction, the insider now directly owns 390,615 shares of the company’s stock, valued at approximately $33,225,711.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were 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 owns 10,247 shares in the company, valued at approximately $900,711.30. The disclosure for this sale can be found here. Insiders have sold 775,934 shares of company stock worth $65,805,022 in the last 90 days. Insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WCM Investment Management LLC bought a new position in AppLovin during the 1st quarter worth approximately $497,488,000. Lone Pine Capital LLC boosted its stake in shares of AppLovin by 7.2% in the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after purchasing an additional 382,767 shares during the last quarter. Jericho Capital Asset Management L.P. increased its position in shares of AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after buying an additional 2,525,240 shares during the period. Fred Alger Management LLC bought a new position in AppLovin during the second quarter worth $290,655,000. Finally, Whale Rock Capital Management LLC acquired a new position in AppLovin in the first quarter valued at $195,129,000. 41.85% of the stock is owned by institutional investors and hedge funds.

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.