AppLovin (NASDAQ:APP) Price Target Raised to $108.00 at Jefferies Financial Group

AppLovin (NASDAQ:APP) had its target price hoisted by Jefferies Financial Group from $105.00 to $108.00 in a research note published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on APP. Wedbush decreased their price objective on shares of AppLovin from $100.00 to $90.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Benchmark raised their price objective 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, Oppenheimer reaffirmed an outperform rating and set a $105.00 target price (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, AppLovin has a consensus rating of Moderate Buy and a consensus target price of $91.78.

AppLovin Stock Up 6.6 %

APP opened at $112.58 on Tuesday. 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 firm has a 50 day moving average price of $84.08 and a 200-day moving average price of $78.11. AppLovin has a twelve month low of $34.45 and a twelve month high of $112.88. The stock has a market capitalization of $37.63 billion, a price-to-earnings ratio of 67.01, a PEG 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 the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was up 44.0% on a year-over-year basis. Equities research analysts forecast that AppLovin will post 3.46 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the sale, the insider now owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Victoria Valenzuela sold 47,001 shares of AppLovin stock in a transaction on Monday, July 1st. The shares were sold at an average price of $85.06, for a total value of $3,997,905.06. Following the transaction, the insider now directly owns 390,615 shares in the company, valued at approximately $33,225,711.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. The disclosure for this sale can be found here. Insiders have sold a total of 775,934 shares of company stock valued at $65,805,022 over the last 90 days. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APP. American Trust grew its holdings in shares of AppLovin by 44.7% during the 2nd quarter. American Trust now owns 8,030 shares of the company’s stock worth $668,000 after purchasing an additional 2,480 shares during the period. Sanctuary Advisors LLC purchased a new position in AppLovin in the 2nd quarter worth approximately $241,000. Clearbridge Investments LLC boosted its holdings in AppLovin by 73.0% in the 2nd quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock worth $74,344,000 after acquiring an additional 376,835 shares during the period. Dana Investment Advisors Inc. boosted its holdings in AppLovin by 5.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 11,438 shares of the company’s stock worth $952,000 after acquiring an additional 604 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in AppLovin by 115.3% in the 2nd quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock worth $2,548,000 after acquiring an additional 16,397 shares during the period. 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.