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

Shares of AppLovin Corporation (NASDAQ:APP) have been assigned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $668.4545.

A number of analysts have commented on APP shares. Wedbush restated an “outperform” rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research note on Tuesday, July 7th. BTIG Research reissued a “buy” rating and set a $640.00 target price on shares of AppLovin in a report on Thursday, May 7th. Finally, Wells Fargo & Company upped their target price on AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th.

AppLovin Price Performance

Shares of APP opened at $412.48 on Thursday. AppLovin has a one year low of $349.21 and a one year high of $745.61. The stock’s fifty day moving average is $502.88 and its 200-day moving average is $482.25. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market capitalization of $138.57 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 0.70 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 business 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 quarterly revenue was up 58.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.67 earnings per share. Equities analysts anticipate that AppLovin will post 15.93 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares of the company’s stock, valued at approximately $138,055,090.29. This represents a 7.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $504.06, for a total transaction of $82,620,474.60. Following the transaction, the director owned 6,785,087 shares of the company’s stock, valued at approximately $3,420,090,953.22. This trade represents a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 393,000 shares of company stock valued at $197,297,363 in the last quarter. 12.81% of the stock is owned by company insiders.

Institutional Trading of AppLovin

A number of large investors have recently added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC acquired a new position in AppLovin in the first quarter worth approximately $25,000. Washington Trust Advisors Inc. lifted its position in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin during the 4th quarter worth $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin during the 4th quarter worth $32,000. Finally, First Pacific Financial acquired a new position in shares of AppLovin in the 1st quarter worth $33,000. 41.85% of the stock is currently owned by institutional investors.

About AppLovin

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.