Jefferies Financial Group Issues Positive Forecast for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP) had its price target boosted by Jefferies Financial Group from $460.00 to $530.00 in a research note released on Thursday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other equities research analysts have also commented on APP. FBN Securities assumed coverage on AppLovin in a research note on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. The Goldman Sachs Group dropped their price target on AppLovin from $500.00 to $335.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Loop Capital restated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 target price (down previously from $560.00) on shares of AppLovin in a report on Thursday. Finally, Arete Research set a $200.00 price target on shares of AppLovin in a research note 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $433.85.

AppLovin Trading Down 3.2 %

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. AppLovin has a 52-week low of $60.67 and a 52-week high of $525.15. The company’s 50-day simple moving average is $275.55 and its 200-day simple moving average is $311.59. The firm has a market cap of $111.77 billion, a P/E ratio of 72.42, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. As a group, equities analysts forecast that AppLovin will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction that occurred 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 owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 in the last quarter. 14.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APP. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin during the 4th quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the fourth quarter worth approximately $25,000. Riverview Trust Co lifted its position in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $28,000. Finally, Hemington Wealth Management grew its position in shares of 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 buying an additional 40 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

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.