AppLovin’s (APP) Outperform Rating Reiterated at Oppenheimer

Oppenheimer restated their outperform rating on shares of AppLovin (NASDAQ:APP) in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a $500.00 target price on the stock, down from their prior target price of $560.00.

Other research analysts have also recently issued reports about the stock. Piper Sandler dropped their target price on shares of AppLovin from $575.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Citigroup increased their price objective on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley raised AppLovin from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $470.00 to $350.00 in a report on Thursday, April 10th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. Finally, The Goldman Sachs Group cut their price objective on shares of AppLovin from $500.00 to $335.00 and set a “neutral” rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $433.85.

AppLovin Trading Down 3.2 %

NASDAQ:APP opened at $328.79 on Thursday. AppLovin has a 52 week low of $60.67 and a 52 week high of $525.15. The firm has a 50-day moving average price of $275.55 and a two-hundred day moving average price of $311.59. The firm has a market cap of $111.77 billion, a price-to-earnings ratio of 72.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the company’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 $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

Institutional Trading of AppLovin

A number of large investors have recently made changes to their positions in the stock. Deutsche Bank AG boosted its holdings in AppLovin by 32.3% in the first quarter. Deutsche Bank AG now owns 602,787 shares of the company’s stock worth $159,720,000 after purchasing an additional 147,291 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in AppLovin during the first quarter valued at $315,000. Charles Schwab Investment Management Inc. lifted its holdings in AppLovin by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,018,815 shares of the company’s stock valued at $269,955,000 after acquiring an additional 53,637 shares during the period. ASR Vermogensbeheer N.V. purchased a new position in AppLovin in the first quarter worth about $4,611,000. Finally, Primecap Management Co. CA grew its stake in shares of AppLovin by 13.5% during the 1st quarter. Primecap Management Co. CA now owns 395,100 shares of the company’s stock valued at $104,690,000 after purchasing an additional 47,000 shares during the period. 41.85% of the stock is currently owned by institutional investors.

About AppLovin

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.