AppLovin (NASDAQ:APP) Price Target Raised to $455.00

AppLovin (NASDAQ:APPFree Report) had its price target lifted by Piper Sandler from $425.00 to $455.00 in a research note released on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on the company. The Goldman Sachs Group reduced their target price on AppLovin from $500.00 to $335.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Citigroup lifted their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a research note on Thursday. Bank of America boosted their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Arete Research set a $200.00 target price on AppLovin in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $433.85.

Read Our Latest Report on APP

AppLovin Trading Down 3.2 %

Shares of APP stock opened at $328.79 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a 50-day simple moving average of $275.55 and a 200 day simple moving average of $311.59. AppLovin has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The stock has a market capitalization of $111.77 billion, a P/E ratio of 72.42, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APPGet Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. On average, sell-side analysts expect that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Hedge funds have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin in the 4th quarter valued at $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the fourth quarter valued at about $25,000. Riverview Trust Co grew its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new position in AppLovin during the fourth quarter valued at about $28,000. Finally, Hemington Wealth Management raised its holdings in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Company Profile

(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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