AppLovin Corporation (NASDAQ:APP) Receives $706.45 Average PT from Analysts

AppLovin Corporation (NASDAQ:APP) has earned a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twenty have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $706.4545.

APP has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Zacks Research raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Benchmark restated a “buy” rating on shares of AppLovin in a report on Monday. UBS Group set a $800.00 target price on shares of AppLovin in a research note on Tuesday, January 13th. Finally, Scotiabank increased their target price on AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 6th.

AppLovin Stock Performance

Shares of APP stock opened at $483.00 on Thursday. The firm has a 50 day moving average of $633.80 and a two-hundred day moving average of $569.61. The stock has a market capitalization of $163.23 billion, a PE ratio of 58.62, a P/E/G ratio of 1.56 and a beta of 2.49. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin has a 52 week low of $200.50 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was up 68.2% compared to the same quarter last year. On average, research analysts predict that AppLovin will post 6.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Eduardo Vivas sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the completion of the sale, the director owned 7,133,292 shares in the company, valued at $4,643,131,095.72. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 30,888 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $520.29, for a total value of $16,070,717.52. Following the completion of the transaction, the chief executive officer directly owned 2,553,161 shares of the company’s stock, valued at $1,328,384,136.69. This trade represents a 1.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 340,336 shares of company stock worth $200,062,623. 13.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hilltop National Bank purchased a new position in shares of AppLovin during the second quarter worth about $26,000. LFA Lugano Financial Advisors SA purchased a new position in AppLovin during the 2nd quarter worth approximately $26,000. Board of the Pension Protection Fund acquired a new position in AppLovin during the fourth quarter worth approximately $27,000. Chilton Capital Management LLC purchased a new stake in AppLovin in the third quarter valued at approximately $29,000. Finally, Activest Wealth Management boosted its holdings in shares of AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.