AppLovin Corporation (NASDAQ:APP) Given Consensus Rating of “Moderate Buy” by Analysts

AppLovin Corporation (NASDAQ:APP) has earned a consensus rating of “Moderate Buy” from the twenty-five analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $578.8571.

Several research analysts have commented on the company. Wells Fargo & Company lifted their target price on AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Wall Street Zen lowered AppLovin from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Morgan Stanley lifted their price objective on AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a research report on Monday.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 350 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $487.97, for a total value of $170,789.50. Following the completion of the sale, the director directly owned 3,150 shares of the company’s stock, valued at $1,537,105.50. The trade was a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 30,000 shares of AppLovin stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the transaction, the chief technology officer owned 3,360,104 shares of the company’s stock, valued at $1,470,280,707.28. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of APP. Atala Financial Inc purchased a new position in AppLovin in the first quarter valued at approximately $26,000. Hilltop National Bank purchased a new position in AppLovin in the second quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA purchased a new position in AppLovin in the second quarter valued at approximately $26,000. Alpine Bank Wealth Management purchased a new position in AppLovin in the first quarter valued at approximately $27,000. Finally, ORG Wealth Partners LLC purchased a new position in AppLovin in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 2.9%

Shares of APP stock opened at $683.64 on Friday. The stock’s fifty day moving average price is $508.20 and its two-hundred day moving average price is $388.02. The company has a market cap of $231.24 billion, a PE ratio of 97.11, a P/E/G ratio of 3.86 and a beta of 2.53. AppLovin has a fifty-two week low of $130.54 and a fifty-two week high of $745.61. The company has a debt-to-equity ratio of 3.01, a quick ratio of 2.74 and a current ratio of 2.74.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue was up 77.1% compared to the same quarter last year. Equities analysts predict that AppLovin will post 6.87 EPS for the current fiscal year.

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.