AppLovin (NASDAQ:APP) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of AppLovin (NASDAQ:APP) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $93.00 target price on the stock.

Several other equities research analysts have also recently issued reports on the stock. BTIG Research lifted their price objective on shares of AppLovin from $65.00 to $87.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. Oppenheimer upped their price objective on AppLovin from $70.00 to $85.00 and gave the stock an outperform rating in a research report on Monday, April 8th. UBS Group boosted their target price on AppLovin from $46.00 to $55.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Wedbush boosted their price objective on shares of AppLovin from $67.00 to $87.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Finally, Morgan Stanley increased their target price on shares of AppLovin from $55.00 to $70.00 and gave the company an equal weight rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $63.60.

AppLovin Stock Up 3.6 %

Shares of APP stock traded up $2.60 during trading on Thursday, reaching $75.07. The company’s stock had a trading volume of 2,971,291 shares, compared to its average volume of 4,035,380. The company has a market capitalization of $25.67 billion, a price-to-earnings ratio of 74.28, a P/E/G ratio of 1.39 and a beta of 1.85. AppLovin has a 1-year low of $16.56 and a 1-year high of $79.55. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. The stock’s 50-day moving average price is $68.24 and its 200 day moving average price is $50.85.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. The business had revenue of $953.26 million during the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. On average, research analysts anticipate that AppLovin will post 2.51 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the sale, the insider now owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AppLovin news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares in the company, valued at approximately $22,931,311.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of APP. Vanguard Group Inc. raised its position in shares of AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after purchasing an additional 1,411,453 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of AppLovin in the first quarter worth $497,488,000. Sapient Capital LLC acquired a new stake in AppLovin in the fourth quarter valued at $165,057,000. First Trust Advisors LP boosted its stake in AppLovin by 42.6% during the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock valued at $91,605,000 after acquiring an additional 686,258 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in AppLovin by 48.4% during the 1st quarter. Raymond James & Associates now owns 1,545,837 shares of the company’s stock worth $107,003,000 after acquiring an additional 503,998 shares in the last quarter. Institutional investors and hedge funds 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.