Jefferies Financial Group Forecasts Strong Price Appreciation for AppLovin (NASDAQ:APP) Stock

AppLovin (NASDAQ:APP) had its price target boosted by Jefferies Financial Group from $270.00 to $400.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 25.16% from the company’s previous close.

A number of other analysts have also recently issued reports on APP. Citigroup increased their price objective on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Bank of America increased their price target on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus boosted their price objective on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

AppLovin Trading Down 4.1 %

Shares of APP stock opened at $319.59 on Tuesday. AppLovin has a 1 year low of $35.79 and a 1 year high of $344.77. The firm has a fifty day moving average price of $185.37 and a 200-day moving average price of $119.37. The company has a market cap of $107.25 billion, a price-to-earnings ratio of 96.85, a PEG ratio of 4.11 and a beta of 1.86. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. As a group, equities analysts predict that AppLovin will post 4.05 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CFO Matthew Stumpf sold 21,101 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now owns 213,336 shares in the company, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 5,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the completion of the sale, the chief technology officer now owns 4,536,447 shares of the company’s stock, valued at approximately $390,315,899.88. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock valued at $233,072,408 over the last 90 days. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently made changes to their positions in APP. Second Half Financial Partners LLC bought a new position in shares of AppLovin during the third quarter valued at approximately $224,000. Eagle Asset Management Inc. boosted its holdings in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares during the period. WCM Investment Management LLC grew its position in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in AppLovin by 10.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock worth $3,440,000 after purchasing an additional 2,385 shares during the period. Finally, Smithbridge Asset Management Inc. DE bought a new stake in shares of AppLovin during the third quarter worth $7,086,000. 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.