AppLovin (NASDAQ:APP) Given New $155.00 Price Target at Citigroup

AppLovin (NASDAQ:APP) had its price objective boosted by stock analysts at Citigroup from $110.00 to $155.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 22.93% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group increased their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Wedbush cut their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America increased their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Benchmark raised their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Finally, BTIG Research raised their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $103.09.

AppLovin Trading Up 1.7 %

NASDAQ:APP opened at $126.09 on Thursday. AppLovin has a twelve month low of $34.45 and a twelve month high of $128.19. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The business has a 50 day moving average price of $87.10 and a two-hundred day moving average price of $79.83. The company has a market cap of $41.49 billion, a P/E ratio of 75.05, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm posted $0.22 EPS. The business’s revenue was up 44.0% on a year-over-year basis. As a group, analysts expect that AppLovin will post 3.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the transaction, the insider now owns 390,615 shares in the company, valued at $33,225,711.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the transaction, the insider now owns 390,615 shares in the company, valued at $33,225,711.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares in the company, valued at approximately $20,262,490.54. 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. Company insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp grew its position in AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after acquiring an additional 248,022 shares during the last quarter. Gulf International Bank UK Ltd acquired a new stake in shares of AppLovin during the first quarter valued at about $1,131,000. Acadian Asset Management LLC boosted its stake in shares of AppLovin by 2,081.4% during the first 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 boosted its stake in shares of AppLovin by 167.0% during the first 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. Finally, Park Avenue Securities LLC acquired a new stake in shares of AppLovin during the second quarter valued at about $1,195,000. 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.