AppLovin (NASDAQ:APP) Receives New Coverage from Analysts at Daiwa Capital Markets

Daiwa Capital Markets started coverage on shares of AppLovin (NASDAQ:APP) in a research note published on Monday, Marketbeat reports. The firm issued a neutral rating and a $80.00 target price on the stock.

Several other research firms also recently commented on APP. BTIG Research upped their price objective on shares of AppLovin from $65.00 to $87.00 and gave the company a buy rating in a report on Tuesday, April 9th. HSBC initiated coverage on shares of AppLovin in a report on Monday, December 18th. They issued a buy rating and a $53.20 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of AppLovin from $59.00 to $73.00 and gave the company a buy rating in a report on Thursday, February 15th. Wedbush upped their price objective on shares of AppLovin from $67.00 to $87.00 and gave the company an outperform rating in a report on Thursday, April 11th. Finally, TheStreet raised shares of AppLovin from a d+ rating to a c- rating in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $57.75.

AppLovin Trading Down 5.5 %

NASDAQ APP opened at $71.43 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The firm has a market cap of $24.43 billion, a PE ratio of 71.43, a price-to-earnings-growth ratio of 1.53 and a beta of 1.90. The company has a 50 day moving average price of $63.41 and a 200 day moving average price of $48.21. AppLovin has a 52 week low of $15.41 and a 52 week high of $79.55.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. AppLovin’s revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS. As a group, sell-side analysts forecast that AppLovin will post 2.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the transaction, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the sale, the director now directly owns 12,739 shares in the company, valued at $743,065.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,215 shares of company stock worth $4,416,815. Company insiders own 12.43% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of hedge funds have recently modified their holdings of APP. JPMorgan Chase & Co. grew its holdings in shares of AppLovin by 99.0% in the first quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock valued at $54,000 after purchasing an additional 488 shares during the period. Raymond James & Associates grew its holdings in shares of AppLovin by 109.0% in the first quarter. Raymond James & Associates now owns 57,743 shares of the company’s stock valued at $3,180,000 after purchasing an additional 30,112 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of AppLovin by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 39,124 shares of the company’s stock valued at $2,155,000 after purchasing an additional 6,942 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of AppLovin by 43.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,425 shares of the company’s stock valued at $519,000 after purchasing an additional 2,858 shares during the period. Finally, Citigroup Inc. grew its holdings in shares of AppLovin by 802.0% in the first quarter. Citigroup Inc. now owns 22,749 shares of the company’s stock valued at $1,253,000 after purchasing an additional 20,227 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.