AppLovin Corporation (NASDAQ:APP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of AppLovin Corporation (NASDAQ:APP) have been given a consensus rating of “Moderate Buy” by the twenty-three ratings firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $664.35.

A number of analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Oppenheimer decreased their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. UBS Group decreased their target price on AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Scotiabank boosted their target price on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Piper Sandler boosted their target price on AppLovin from $650.00 to $665.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th.

AppLovin Stock Down 1.3%

Shares of NASDAQ:APP opened at $605.63 on Wednesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin has a 1 year low of $320.00 and a 1 year high of $745.61. The stock has a market capitalization of $203.46 billion, a P/E ratio of 52.03, a PEG ratio of 1.00 and a beta of 2.45. The stock has a 50-day simple moving average of $460.05 and a 200-day simple moving average of $520.92.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the business earned $1.67 EPS. The company’s revenue for the quarter was up 58.9% on a year-over-year basis. Equities analysts forecast that AppLovin will post 15.86 earnings per share for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 2,889 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $488.90, for a total value of $1,412,432.10. Following the completion of the transaction, the chief technology officer owned 17,945 shares of the company’s stock, valued at approximately $8,773,310.50. This represents a 13.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 464,016 shares of company stock worth $218,477,985 over the last 90 days. Company insiders own 13.66% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of institutional investors and hedge funds have recently bought and sold shares of APP. Vanguard Group Inc. boosted its holdings in AppLovin by 39.4% in the 3rd quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after acquiring an additional 7,051,663 shares during the period. State Street Corp boosted its holdings in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock worth $8,516,471,000 after acquiring an additional 6,237,051 shares during the period. Corient Private Wealth LLC boosted its holdings in AppLovin by 3,118.6% in the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock worth $2,826,049,000 after acquiring an additional 4,063,763 shares during the period. Norges Bank purchased a new position in AppLovin in the 4th quarter worth approximately $2,040,321,000. Finally, Capital Research Global Investors purchased a new position in AppLovin in the 3rd quarter worth approximately $743,899,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.