AppLovin Co. (NASDAQ:APP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of AppLovin Co. (NASDAQ:APPGet Free Report) have been given a consensus rating of “Moderate Buy” by the eighteen research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $71.72.

APP has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Wedbush lifted their price target on AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. Citigroup lifted their price target on AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Daiwa Capital Markets began coverage on AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 price target on the stock.

Read Our Latest Stock Report on APP

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the sale, the insider now directly owns 448,490 shares in the company, valued at $36,493,631.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the completion of the transaction, the insider now directly owns 366,567 shares in the company, valued at $30,557,025.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total value of $235,159.30. Following the completion of the transaction, the insider now owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The disclosure for this sale can be found here. Insiders have sold a total of 17,857,726 shares of company stock worth $1,489,251,374 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC purchased a new position in AppLovin in the fourth quarter valued at about $32,000. Covestor Ltd boosted its holdings in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in AppLovin in the second quarter valued at about $37,000. Atlas Capital Advisors LLC acquired a new stake in AppLovin during the first quarter valued at approximately $38,000. Finally, ORG Partners LLC raised its stake in AppLovin by 212.0% during the first quarter. ORG Partners LLC now owns 624 shares of the company’s stock valued at $43,000 after buying an additional 424 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of NASDAQ APP opened at $84.71 on Wednesday. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. AppLovin has a fifty-two week low of $25.82 and a fifty-two week high of $91.91. The firm has a market capitalization of $27.87 billion, a PE ratio of 50.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.86. The stock’s 50-day simple moving average is $81.22 and its 200-day simple moving average is $65.45.

AppLovin (NASDAQ:APPGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. During the same quarter last year, the company earned ($0.01) EPS. The business’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, equities research analysts forecast that AppLovin will post 2.96 EPS for the current fiscal year.

About AppLovin

(Get Free Report

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.

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Analyst Recommendations for AppLovin (NASDAQ:APP)

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