AppLovin (NASDAQ:APP) Price Target Raised to $400.00 at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $355.00 to $400.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 3.97% from the company’s previous close.

APP has been the topic of a number of other research reports. Citigroup reissued a “buy” rating on shares of AppLovin in a research report on Thursday, May 29th. The Goldman Sachs Group increased their price target on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Loop Capital reissued a “buy” rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. Finally, HSBC set a $436.00 price target on AppLovin and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.10.

AppLovin Stock Performance

APP stock opened at $416.52 on Tuesday. 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 business’s fifty day simple moving average is $305.48 and its two-hundred day simple moving average is $330.82. AppLovin has a twelve month low of $60.67 and a twelve month high of $525.15. The firm has a market cap of $140.94 billion, a price-to-earnings ratio of 91.74, a PEG ratio of 3.02 and a beta of 2.53.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The business’s revenue was up 40.3% compared to the same quarter last year. Analysts predict that AppLovin will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 400,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the sale, the director now directly owns 221,209 shares of the company’s stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,115,754 shares of company stock worth $411,165,970 over the last quarter. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC raised its stake in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in shares of AppLovin by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after purchasing an additional 31 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after purchasing an additional 33 shares during the last quarter. Forum Financial Management LP raised its stake in shares of AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after purchasing an additional 33 shares during the last quarter. Finally, Vestcor Inc raised its stake in shares of AppLovin by 0.8% in the first quarter. Vestcor Inc now owns 4,108 shares of the company’s stock worth $1,088,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds 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.