AppLovin (NASDAQ:APP) Price Target Raised to $475.00

AppLovin (NASDAQ:APP) had its price target hoisted by UBS Group from $450.00 to $475.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Monday, April 21st. HSBC set a $436.00 price target on AppLovin and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Citigroup lifted their price objective on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Oppenheimer reiterated an “outperform” rating and set a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price target on shares of AppLovin from $500.00 to $335.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $433.85.

AppLovin Stock Down 3.2 %

APP stock opened at $328.79 on Thursday. The business’s 50-day simple moving average is $275.55 and its 200 day simple moving average is $311.59. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $111.77 billion, a PE ratio of 72.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $0.67 earnings per share. AppLovin’s revenue was up 40.3% on a year-over-year basis. On average, research analysts anticipate that AppLovin will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 over the last three months. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Large investors have recently made changes to their positions in the stock. Deutsche Bank AG boosted its stake in AppLovin by 32.3% in the 1st quarter. Deutsche Bank AG now owns 602,787 shares of the company’s stock worth $159,720,000 after purchasing an additional 147,291 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of AppLovin during the first quarter worth about $315,000. Charles Schwab Investment Management Inc. raised its position in AppLovin by 5.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,018,815 shares of the company’s stock valued at $269,955,000 after buying an additional 53,637 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in AppLovin in the 1st quarter valued at approximately $4,611,000. Finally, Primecap Management Co. CA boosted its position in AppLovin by 13.5% during the 1st quarter. Primecap Management Co. CA now owns 395,100 shares of the company’s stock worth $104,690,000 after acquiring an additional 47,000 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

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.