JPMorgan Chase & Co. Issues Positive Forecast for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APPGet Free Report) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $270.00 to $355.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 7.97% from the stock’s current price.

Other research analysts have also recently issued reports about the company. HSBC set a $436.00 target price on AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. Citigroup raised their target price on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Loop Capital reissued a “buy” rating and set a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. Finally, Piper Sandler boosted their price objective on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $433.85.

Check Out Our Latest Stock Report on AppLovin

AppLovin Trading Down 3.2 %

NASDAQ APP opened at $328.79 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a market capitalization of $111.77 billion, a PE ratio of 72.42, a P/E/G ratio of 3.02 and a beta of 2.39. The stock has a 50-day simple moving average of $275.55 and a 200 day simple moving average of $310.54.

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

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last 90 days. Company insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in APP. Vanguard Group Inc. grew its holdings in AppLovin by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock valued at $4,724,594,000 after buying an additional 1,213,536 shares in the last quarter. FMR LLC boosted its position in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares during the period. SVB Wealth LLC acquired a new position in shares of AppLovin in the fourth quarter valued at about $1,781,922,000. Baillie Gifford & Co. increased its position in AppLovin by 29.0% during the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock worth $1,396,486,000 after acquiring an additional 1,185,859 shares during the period. Finally, Geode Capital Management LLC raised its stake in AppLovin by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after purchasing an additional 573,310 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Company Profile

(Get Free Report)

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.

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Analyst Recommendations for AppLovin (NASDAQ:APP)

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