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

Shares of AppLovin Corporation (NASDAQ:APP) have been assigned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $669.6190.

A number of equities analysts have commented on the company. Citigroup reissued a “buy” rating on shares of AppLovin in a report on Monday, June 22nd. Weiss Ratings cut AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Morgan Stanley restated an “overweight” rating on shares of AppLovin in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $660.00 target price on shares of AppLovin in a report on Thursday, May 7th. Finally, Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research report on Tuesday, June 9th.

AppLovin Stock Performance

APP opened at $477.08 on Friday. The firm’s fifty day simple moving average is $497.00 and its two-hundred day simple moving average is $510.88. AppLovin has a 52-week low of $325.58 and a 52-week high of $745.61. The company has a market cap of $160.27 billion, a price-to-earnings ratio of 40.99, a PEG ratio of 0.78 and a beta of 2.45. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company’s revenue for the quarter was up 58.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 EPS. Equities analysts anticipate that AppLovin will post 15.97 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the transaction, the director directly owned 6,785,087 shares in the company, valued at $3,420,090,953.22. The trade was a 2.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the sale, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 389,924 shares of company stock worth $195,693,875 in the last 90 days. 13.66% of the stock is owned by insiders.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently added to or reduced their stakes in APP. Washington Trust Advisors Inc. grew its position in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $27,000. Mcguire Capital Advisors Inc. acquired a new position in AppLovin during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC purchased a new stake in AppLovin during the fourth quarter worth $32,000. Finally, Graney & King LLC acquired a new stake in AppLovin in the third quarter valued at $36,000. 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.