AppLovin Corporation (NASDAQ:APP) Receives $438.10 Average PT from Brokerages

AppLovin Corporation (NASDAQ:APP) has received a consensus rating of “Moderate Buy” from the twenty-two research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $438.10.

APP has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and issued a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Wednesday, May 28th. FBN Securities assumed coverage on shares of AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price target for the company. Piper Sandler raised their price target on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a report on Thursday, May 8th.

AppLovin Stock Performance

Shares of APP stock opened at $324.70 on Wednesday. AppLovin has a one year low of $60.67 and a one year high of $525.15. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. The company has a 50 day moving average price of $333.20 and a 200 day moving average price of $334.44. The firm has a market capitalization of $109.88 billion, a price-to-earnings ratio of 58.61, a price-to-earnings-growth ratio of 2.00 and a beta of 2.53.

AppLovin (NASDAQ:APP) last announced its quarterly 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 net margin of 37.38% and a return on equity of 224.65%. The firm 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 company earned $0.67 EPS. The firm’s revenue was up 40.3% on a year-over-year basis. Sell-side analysts anticipate that AppLovin will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 6,585 shares of AppLovin stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $370.23, for a total value of $2,437,964.55. Following the sale, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. This trade represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Barbara Messing sold 1,500 shares of AppLovin stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total transaction of $573,690.00. Following the completion of the sale, the director now owns 9,510 shares in the company, valued at approximately $3,637,194.60. This represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,212,968 shares of company stock worth $455,062,980. 13.66% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

Several hedge funds have recently bought and sold shares of the company. Capital Advisory Group Advisory Services LLC acquired a new position in AppLovin during the 4th quarter valued at about $213,000. Yousif Capital Management LLC increased its stake in AppLovin by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock valued at $939,000 after buying an additional 119 shares during the period. Peak Retirement Planning Inc. acquired a new position in AppLovin during the 4th quarter valued at about $969,000. Parcion Private Wealth LLC acquired a new position in AppLovin during the 4th quarter valued at about $366,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company’s stock worth $1,106,000 after purchasing an additional 121 shares during the last quarter. 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.