AppLovin Co. (NASDAQ:APP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of AppLovin Co. (NASDAQ:APP) have earned an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $355.41.

A number of analysts have commented on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research note on Tuesday, December 10th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Bank of America raised their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, BTIG Research upped their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other AppLovin news, 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 completion of the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last ninety days. Corporate 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 company. FMR LLC grew its position in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC bought a new stake in AppLovin during the 2nd quarter valued at approximately $290,655,000. 1832 Asset Management L.P. grew its holdings in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares during the last quarter. Jennison Associates LLC bought a new position in AppLovin in the 4th quarter worth approximately $414,462,000. Finally, WCM Investment Management LLC lifted its holdings in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Up 0.2 %

Shares of NASDAQ:APP opened at $363.10 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $121.85 billion, a price-to-earnings ratio of 110.03, a PEG ratio of 2.96 and a beta of 2.29. AppLovin has a 1-year low of $40.71 and a 1-year high of $417.64. The company has a 50 day moving average price of $337.41 and a 200 day moving average price of $198.41.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. On average, research analysts anticipate that AppLovin will post 4.06 EPS for the current fiscal year.

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.