AppLovin’s (APP) “Hold” Rating Reaffirmed at Needham & Company LLC

AppLovin (NASDAQ:APP)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

APP has been the topic of a number of other research reports. Morgan Stanley lifted their target price on AppLovin from $350.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Citigroup raised their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Loop Capital reaffirmed a “buy” rating and set a $650.00 target price on shares of AppLovin in a research note on Friday, March 28th. The Goldman Sachs Group boosted their price target on shares of AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, UBS Group lifted their price objective on AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $433.85.

AppLovin Price Performance

AppLovin stock opened at $384.23 on Wednesday. AppLovin has a 52-week low of $60.67 and a 52-week high of $525.15. The firm has a market capitalization of $130.02 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 3.02 and a beta of 2.39. 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 company has a fifty day simple moving average of $297.68 and a 200-day simple moving average of $327.72.

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

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 6,585 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the transaction, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. This represents a 1.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, 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. Insiders have sold 1,115,754 shares of company stock valued at $411,165,970 over the last three months. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

A number of hedge funds and other institutional investors have recently modified their holdings of APP. Vanguard Group Inc. grew its holdings in shares of AppLovin by 7.3% during the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock valued at $4,724,594,000 after buying an additional 1,213,536 shares in the last quarter. FMR LLC lifted its stake in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after buying an additional 5,957,885 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock worth $1,745,752,000 after purchasing an additional 1,769,400 shares during the period. SVB Wealth LLC acquired a new stake in AppLovin in the 4th quarter worth $1,781,922,000. Finally, Baillie Gifford & Co. boosted its position in shares of AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after acquiring an additional 1,185,859 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

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.